Range to redeem $200 million notes due 2013 with note sale proceeds

By Susanna Moon

Chicago, July 29 - Range Resources Corp. said it plans to use proceeds from a 10-year note offering to redeem $200 million principal amount of its 7 3/8% senior subordinated notes due 2013.

The remaining proceeds will be used to pay down a portion of the company's senior credit facility.

Range said it plans to publicly offer $350 million principal amount of senior subordinated notes, subject to market conditions.

Range Resources is a Fort Worth, Texas-based independent oil and gas company.

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