Penn Virginia Corporation Announces $250 Million Offering of Senior Notes
Penn Virginia Corporation (NYSE: PVA) announced today that it intends to
offer, subject to market and other conditions, $250 million aggregate
principal amount of senior notes due 2019 in an underwritten public
offering (the 'Offering?). PVA intends to use a portion of the net
proceeds from the Offering to fund its previously announced tender offer
for any and all of its outstanding 4.50% Convertible Senior Subordinated
Notes due 2012. Any remaining net proceeds from the Offering will be
used to provide additional working capital for general corporate
purposes.
J.P. Morgan Securities LLC, BofA Merrill Lynch, RBC Capital Markets,
LLC, Wells Fargo Securities, LLC and Barclays Capital Inc. will act as
joint book-running managers for the Offering.
The Offering is being made pursuant to an effective shelf registration
statement. The Offering may be made only by means of a prospectus
supplement and the accompanying prospectus, copies of which may be
obtained by sending a request to: J.P. Morgan Securities LLC, 383
Madison Avenue, 3rd Floor, New York, NY 10179, Attention: Syndicate
Desk, Telephone: 800-245-8812; BofA Merrill Lynch, 4 World Financial
Center, New York, NY 10080 Attention: Syndicate Operations, Telephone
(800) 294-1322, e-mail: dg.prospectus_requests@baml.com;
RBC Capital Markets, LLC, Attn: High Yield Syndicate, 200 Vesey Street,
3WFC 9th Floor, New York, NY 10281, Telephone (877) 280-1299, email: CM-USA-Prospectus@rbc.com;
Wells Fargo Securities, LLC, Attn: Client Support, MAC D1086-070, 550
South Tryon Street, 7th Floor, Charlotte, NC 28202, Telephone:
800-326-5897, e-mail: cmclientsupport@wellsfargo.com;
or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Ave., Edgewood, NY 11717, Telephone: 888-603-5847, e-mail: barclaysprospectus@broadridge.com.
An electronic copy of the prospectus and preliminary prospectus
supplement is available from the Securities and Exchange Commission′s
website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state.
Penn Virginia Corporation (NYSE: PVA) is an independent natural gas
and oil company focused on the exploration, acquisition, development and
production of reserves in onshore regions of the U.S., including Texas,
Appalachia, the Mid-Continent region and Mississippi.
For more information, please visit our website at www.pennvirginia.com.
Certain statements contained herein that are not descriptions of
historical facts are 'forward-looking? statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. Because such
statements include risks, uncertainties and contingencies, actual
results may differ materially from those expressed or implied by such
forward-looking statements.
Additional information concerning these and other factors can be found
in our press releases and public periodic filings with the Securities
and Exchange Commission. Many of the factors that will determine our
future results are beyond the ability of management to control or
predict. Readers should not place undue reliance on forward-looking
statements, which reflect management′s views only as of the date hereof.
We undertake no obligation to revise or update any forward-looking
statements, or to make any other forward-looking statements, whether as
a result of new information, future events or otherwise.
Penn Virginia Corporation
James W. Dean
Vice President,
Corporate Development
Ph: 610-687-7531
Fax: 610-687-3688
invest@pennvirginia.com
