Penn Virginia Corp.
Description
Announced the deferral of a proposed private offering of its senior unsecured notes offering due 2028 after receiving indication from potential bond investors that the proposed new financing didn’t materially differentiate from our financing in place currently, according to CEO Darrin Henke. Proceeds were intended to fully repay and terminate its second lien term loan, to repay a portion of outstanding borrowings under its reserve based revolving credit facility and to pay related fees and expenses.