Vanguard Natural Resources LLC has announced today the pricing of its public offering. The company's shares of 2,200,000 were offered at US$25 per share piece. The shares are 7.875% Series A Cumulative Redeemable Perpetual Units.

Underwriters for the said offer were given a 30 day option to acquire additional 330,000 Series A Units from the firm. The price of which will be lower than the underwriting discount. Distributions will be payable at an initial rate of 7.875% per annum of the stated liquidated preference of US$25.

The offering is said to close on June 19 of this year subject to closing conditions.

Vanguard expects to receive net proceeds for the said offering that is about US$53 million. If underwriters exercise the 30 day option, the company will get around US$61 million. The proceeds will be used to pay for the company's debt under its senior secured credit facility.

Barclays, Stifel, Credit Suisse and MLV & Co. are joint book runners for the said offering.