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Range Resources Opens Common Share Offer

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June 12, 2014

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 ...

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