Penn Virginia Corp.
Description
Priced offering by indirect, wholly owned subsidiary Penn Virginia Escrow LLC of 9.250% senior unsecured notes due 2026, initially sold at 99.018% of par. Proceeds will be used to repay and discharge the long-term debt of Lonestar, following completion of its acquisition by Penn Virginia, and to use the remainder, along with cash on hand, to repay Penn Virginia’s second lien term loan in full and pay related expenses.