Vanguard Natural Resources, LLC (NYSE: VNR) (the “Company”) and its subsidiary VNR Finance Corp. today announced that they intend, subject to market conditions, to publicly offer an additional $200 million aggregate principal amount of their 7.875% Senior Notes due 2020 (the “Additional Notes”), pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”) on January 18, 2012. The Company originally offered and sold $350 million aggregate principal amount of initial notes on April 4, 2012. The Additional Notes will have identical terms, other than the issue date, and will constitute part of the same series as and be fungible with the initial notes. Like the initial notes, the Additional Notes will be fully and unconditionally guaranteed by all of the Company’s current subsidiaries. The Company intends to use the net proceeds from this offering to repay a portion of the outstanding borrowings under its senior secured reserve-based credit facility.
RBC Capital Markets, LLC, Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., RBS Securities Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and UBS Securities LLC will act as joint book-running managers for the offering. An investor may obtain a free electronic copy of the preliminary prospectus supplement and accompanying base prospectus relating to the offering by visiting EDGAR on the SEC website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering of these securities may be made only by means of a prospectus and related prospectus supplement.