QR Energy, LP, a Delaware limited partnership, (QRE), and its wholly owned subsidiary QRE Finance Corporation announced the pricing of their private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended, to eligible purchasers of $300 million in aggregate principal amount of 9.25% senior unsecured notes due 2020.
The Notes mature on August 1, 2020 and will be issued at a public offering price of 98.62% of par. This private placement is expected to close on July 30, 2012, subject to customary closing conditions.
QR Energy intends to use the net proceeds, after expenses, from the private placement of approximately $290.7 million to repay borrowings outstanding under its credit facility.
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