DALLAS (AP) — Natural gas producer Regency Energy Partners LP said Friday that it priced a public offering of 10 million common units that will be used to refinance debt at $20.92 per unit.
The plan also includes an option to sell another 1.5 million common units within 30 days, if there is sufficient demand. The sale of all 11.5 million units would raise about $241 million before expenses.
Regency said it plans to use proceeds to pay back debt on its revolving credit facility. It said it may still borrow money under the facility to cover capital expenditures and acquisitions, to buy back senior notes and for other corporate uses.
Barclays Capital, Bank of America Merrill Lynch, Credit Suisse, J.P. Morgan, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are Regency Energy’s joint book-running managers for the offering. Deutsche Bank Securities and Oppenheimer & Co. are co-managers.