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Vanguard Natural Resources, LLC (NYSE: VNR) (the “Company”) today announced the pricing of its public offering of 8,000,000 common units representing limited liability company interests in the Company at a price of $27.85 per unit. The underwriters have been granted a 30-day option to purchase up to an additional 1,200,000 common units from the Company at the public offering price less the underwriting discount. The offering is expected to close on February 5, 2013, subject to customary closing conditions.
The Company expects to receive net proceeds of approximately $214.0 million (or approximately $246.1 million if the underwriters exercise their option to purchase an additional 1,200,000 common units), after deducting underwriting discounts and estimated offering expenses, from the offering and intends to use the net proceeds from the offering to repay a portion of its indebtedness outstanding under its senior secured revolving credit facility, which was incurred in part to fund recent acquisitions.
UBS Investment Bank, BofA Merrill Lynch, Barclays, Wells Fargo Securities, Citigroup, Deutsche Bank Securities, J.P. Morgan, Morgan Stanley and RBC Capital Markets are joint book-running managers for the offering. An investor may obtain a free copy of the prospectus supplement and accompanying base prospectus relating to the offering by visiting EDGAR on the SEC website at
www.sec.gov. When available, a copy of the prospectus supplement and accompanying base prospectus relating to the offering also may be obtained from:
UBS Investment BankAttention: Prospectus Dept.299 Park AvenueNew York, NY 10171Phone: (888) 827-7275
BofA Merrill Lynch222 Broadway, New York, NY 10038Attention: Prospectus DepartmentEmail:
Barclaysc/o Broadridge Financial Solutions1155 Long Island Ave.Edgewood, NY 11717Email:
email@example.comPhone: (888) 603-5847
Wells Fargo SecuritiesAttention: Equity Syndicate Department375 Park AvenueNew York, New York 10152Phone: (800) 326-5897Email:
Citigroup Global Markets Inc.c/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Phone: (800) 831-9146Email:
Deutsche Bank SecuritiesAttention: Prospectus Group60 Wall StreetNew York, NY 10005Phone: (800) 503-4611Email:
J.P. Morganc/o Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Phone: (866) 803-9204