Vanguard Natural Resources LLC (NasdaqGS: VNR) closed its public offering of 7,000,000 Series B cumulative, redeemable, perpetual preferred units, the company said March 12.
The 7.625% units were priced at $25 each in the previously announced offering, Vanguard added.
Underwriters were granted a monthlong option to purchase up to 1,050,000 additional units at a price lower than the discount, the company said.
The units are listed under the ticker "VNRBP" on NasdaqGS, the company noted.
Net proceeds of about $169.2 million will repay a portion of senior secured revolving credit ...