Penn Virginia to $164.6 million unit proceeds to repay bank facility

By Tali David

Minneapolis, Nov. 15 - Penn Virginia Resource Partners, LP said it intends to use all of the net proceeds from its $164.6 million offering of units to repay some of the borrowings on its revolving credit facility.

Penn Virginia Resource Partners priced 7 million common units representing limited partner interests in the company at $24.55, according to a press release. There is a greenshoe for a further 1.05 million units.

Penn Virginia is a Radnor, Pa.-based oil and gas company.

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