On May 8, Legacy Reserves LP (NASDAQ: LGCY) and its wholly owned subsidiary Legacy Reserves Finance Corp. priced an additional $300 million, in aggregate principal amount, of senior unsecured notes, the company said.
The notes, with a yearly interest rate of 6.625%, are due 2021, the company added.
Net proceeds will fund a portion of the cash consideration for an acquisition of oil and natural gas properties, Legacy Reserves said. The properties are in the Piceance Basin in Garfield County, Colo., the company added.
Until proceeds are used for the ...