S&P Cuts Southwestern Energy (SWN) Ratings to 'BBB-' Following Marcellus Shale Deal

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Go back to S&P Cuts Southwestern Energy (SWN) Ratings to 'BBB-' Following Marcellus Shale Deal

Southwestern Energy (SWN) Prices Larger 26.09M Common Offering at $23/Share; Prices 30M Depositary Shares

January 15, 2015 6:16 AM EST

Southwestern Energy (NYSE: SWN) priced its previously announced concurrent underwritten public offerings of 26,086,957 shares of its common stock at a price of $23.00 per share and 30,000,000 depositary shares, each of which represents a 1/20th interest in a share of Southwestern Energy's 6.25% Series B Mandatory Convertible Preferred Stock (the "Convertible Preferred Stock"), with a liquidation preference of $1,000 per share (equivalent to a $50 liquidation preference per depositary share), at a price of $50 per depositary share on January 14, 2015. The offerings were upsized from the previously announced offerings of 20,260,000 shares of Southwestern Energy's common stock and 26,000,000 depositary shares. The net... More