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WildHorse to repay revolver with proceeds from IPO, new senior notes
By Marisa Wong
Morgantown, W.Va., Jan. 23 – WildHorse Resource Development Corp. repaid outstanding borrowings under its revolving credit facility using proceeds from a public offering of stock, according to an 8-K filing with the Securities and Exchange Commission.
The company received net proceeds of $32.6 million from the partial exercise of the greenshoe under its initial public offering that closed on Jan. 17. All of the proceeds from the greenshoe were used for the paydown.
On Monday the company announced it plans to offer $300 million senior notes due 2025. Proceeds from the proposed notes will also be used to repay outstanding revolver borrowings.
WildHorse is an oil and natural gas company based in Houston.
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