Markets

PVR Partners Prices Public Offering of 6.5 Mln Common Units; Tumbles 6% Pre-Open

A generic image of a pen and on top of a chart.
Credit: Shutterstock photo

PVR Partners L.P. ( PVR ) lost 5.5% in pre-market trade after pricing its public offering of 6.5 million common units representing limited partner interests in PVR at $23.11 per unit.

PVR also granted the underwriters a 30-day option to purchase a maximum of 975,000 additional common units to cover over-allotments, if any. PVR expects to close the sale on November 15, 2012, for proceeds of approximately $144.0 million after deducting underwriting discounts and commissions and estimated expenses. The company plans to use all of the net proceeds from the offering to repay a portion of the borrowings outstanding under its revolving credit facility.

PVR closed yesterday's regular session at $23.99; trades in a 52-week range of $21.34 - $27.50.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos