Legacy Reserves plans revolver paydown via public offering of units

By Susanna Moon

Chicago, Nov. 7 - Legacy Reserves LP said it plans to repay some debt under its revolving credit facility using proceeds of a public offering of units.

The company plans to sell 3.4 million units via bookrunners UBS Investment Bank, Raymond James and Citigroup, according to a company press release.

The underwriters have a 30-day over-allotment option for up to 510,000 additional units.

Pricing for the public offering was not included in the release.

Legacy is a Midland, Texas-based independent oil and natural gas limited partnership.

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