Magnum Hunter to pay down revolver borrowings using note proceeds

By Ashley Montgomery

Kansas City, Kan. Dec. 13 - Magnum Hunter Resources Corp. plans to use the proceeds from its add-on offering of 9¾% senior notes to repay a portion of its senior revolving credit facility debt, according to a notice.

The company is offering $150 million of the notes due 2020 in a private offering. The company originally sold $450 million of the notes in May.

Magnum Hunter is a Houston-based independent exploration and production company.

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