PVR Partners L.P. Prices Public Offering Of 5.50 Mln At $23.00 Per Unit

(RTTNews) - PVR Partners L.P. (PVR) announced that it priced the underwritten public offering of 5.50 million common units representing limited partner interests in PVR at a price of $23.00 per common unit.

PVR has granted to the underwriter a 30-day option to purchase a maximum of 825,000 additional common units.

The immediate use of the net proceeds from the offering will be to repay a portion of the borrowings outstanding under PVR's revolving credit facility or "Revolver". PVR anticipates that it will re-borrow from time to time amounts repaid under the Revolver for general partnership purposes.