Range Resources begins $400 million capped tender offer for six series of senior notes

Chicago, Aug. 18 – Range Resources Corp. began a capped tender offer for up to $400 million aggregate principal amount from six series of notes, according to a press release on Tuesday.

In order of acceptance priority level, the following notes are eligible in the offer with the applicable total consideration listed for that series:

• The $37.57 million principal amount outstanding of the 5¾% senior notes due 2021 (Cusip: 75281AAW9) for a total consideration of $1,010 per $1,000 principal amount of notes;

• The $21,105,000 principal amount outstanding of the 5¾% senior notes due 2021 (Cusip: 75281AAM1) for a total consideration of $985 per $1,000 principal amount of notes;

• The $113,583,000 principal amount outstanding of the 5 7/8% senior notes due 2022 (Cusip: 75281AAU3) for a total consideration of $1,021.25 per $1,000 principal amount of notes;

• The $460,625,000 principal amount outstanding of the 5% senior notes due 2022 (Cusip: 75281AAY5) for a total consideration of $1,012.50 per $1,000 principal amount of notes;

• The $18,019,000 principal amount outstanding of the 5% senior notes due 2022 (Cusip: 75281AAN9) for a total consideration of $950 per $1,000 principal amount of notes; and

• The $654,672,000 principal amount outstanding of the 5% senior notes due 2023 (Cusips: 75281AAZ2, 75281ABA6) for a total consideration of $1,000 per $1,000 principal amount of notes, with a subcap of $125 million for this series.

The total considerations include a $50 early tender premium which will not be included for noteholders who tender after the early tender date of 5 p.m. ET on Aug. 31, which is also the withdrawal deadline.

Interest up to the settlement date will also be paid on the notes but has not been included in the calculation.

The offers will expire at midnight ET on Sept. 15.

Settlement is expected two business days after each relevant expiration date, whether the early tender date or the final expiration date.

The company plans to fund the offers from an offering of debt securities and, if necessary, borrowings from its bank credit facility or cash on hand.

Acceptance for tenders may be subject to proration.

The dealer manager for the tender offers is Citigroup Global Markets Inc. (800 558-3745, 212 723-6106).

The information agent and tender agent is D.F. King & Co., Inc. (800 628-8538, 212 269-5550, rrc@dfking.com).

Range Resources is an oil and natural gas producer based in Fort Worth.

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