Range Resources Corp. (NYSE: RRC) opened a public offering of about 4.6 million common shares, the company said June 11.
Underwriters were granted a monthlong option to purchase an additional 684,000 shares, the company said.
Net proceeds will fund the early redemption of 8% senior subordinated notes, and will also support general corporate purposes, Range added.
"A fundamental tenet of Range's strategy has been to maintain a strong, flexible and straightforward balance sheet. By redeeming these high-coupon bonds with common equity, we are further strengthening the balance sheet and materially ...