Legacy Reserves Announces $250 Mln Senior Notes Offering

(RTTNews) - Legacy Reserves LP (LGCY), together with its wholly owned subsidiary Legacy Reserves Finance Corp., announced that they intend to offer an additional $250 million in aggregate principal amount of 6.625 percent senior unsecured notes due 2021.

Legacy expects to use the net proceeds of this offering to fund a portion of the cash consideration for its previously announced acquisition of a non-operated interest in oil and natural gas properties in the Piceance Basin in Garfield County, Colorado.

Pending the use of the proceeds for these purposes, Legacy plans to apply the net proceeds to reduce outstanding borrowings under its revolving credit facility.