Legacy Reserves LP (NASDAQ: LGCY) opened a public offering of Series B preferred units, the company said June 10.
Underwriters were given a monthlong option to purchase additional units, the company said.
The units' preferred rate will probably be fixed at 10 years, Legacy said.
The net proceeds from the offering will pay revolving credit facility debts, and also support general partnership purposes, the company said.
UBS Securities LLC, Morgan Stanley & Co. LLC, Stifel, Nicolaus & Co. Inc. and MLV & Co. LLC are joint book-running managers, the company ...