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Range upsizes, prices $550M senior note offering

Range Resources Corp. priced an offering of 9.25% senior notes due 2026 at par and increased its size to $550 million, from $500 million.

The company is expecting proceeds of about $541.6 million, which will be used to purchase up to $500 million of its outstanding 5.750% senior notes due 2021, 5.875% senior notes due 2022 and 5.000% senior notes due 2022 in a previously announced cash tender offer, including fees and expenses, with the rest to be used to repay borrowings under its bank credit facility.

The offering is expected to close Jan. 24, subject to customary closing conditions, according to a Jan. 9 release.