Range Resources (NYSE: RRC) calls full $600M redemption of 8.25% 2029 notes
Rhea-AI Filing Summary
Range Resources Corporation plans to fully redeem its 8.25% senior notes due 2029. The company has issued a Notice of Full Redemption covering an aggregate principal amount of $600,000,000 of these notes, with no notes to remain outstanding after the designated redemption date of January 15, 2026.
The redemption price is set at 101.375% of the outstanding aggregate principal amount, plus accrued and unpaid interest up to but excluding the redemption date. For each $1,000 of principal, holders will receive $1,013.75 plus accrued interest. Range Resources intends to use its existing revolving credit facility to fund the redemption.
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Insights
Range Resources is redeeming $600M of 8.25% notes using its credit facility.
Range Resources Corporation has called for a full redemption of its 8.25% senior notes due 2029. The redemption covers an aggregate principal amount of
Noteholders will receive a redemption price of
The company intends to fund this transaction through its existing revolving credit facility. The filing does not detail interest rates or covenants on that facility, so the net effect on funding costs and flexibility depends on the terms of the revolver and how quickly the company adjusts borrowings in future periods.
FAQ
What did Range Resources Corporation (RRC) announce in this 8-K?
Range Resources Corporation announced that it has issued a Notice of Full Redemption for its 8.25% senior notes due 2029, calling for the full redemption of $600,000,000 in principal on January 15, 2026.
How much of Range Resources’ 8.25% senior notes due 2029 will be redeemed?
The company plans to redeem an aggregate principal amount of $600,000,000 of its 8.25% senior notes due 2029, and no notes will remain outstanding after the January 15, 2026 redemption date.
What redemption price will holders of Range Resources’ 8.25% notes receive?
Holders will receive a redemption price equal to 101.375% of the outstanding aggregate principal amount, plus accrued and unpaid interest up to but excluding the redemption date. For each $1,000 of principal, the redemption price is $1,013.75 plus accrued interest.
When is the redemption date for Range Resources’ 8.25% senior notes due 2029?
The designated redemption date for the 8.25% senior notes due 2029 is January 15, 2026, after which no notes under this issue will remain outstanding.
How will Range Resources (RRC) fund the redemption of its 8.25% notes?
Range Resources intends to utilize its existing revolving credit facility to fund the full redemption of the $600,000,000 principal amount of its 8.25% senior notes due 2029.
Does this 8-K filing itself serve as the notice of redemption to noteholders?
No. The company states that the disclosure shall not constitute a notice of redemption with respect to the 8.25% senior notes due 2029. A separate formal notice of redemption has been issued to holders.