Southwestern Raises $502M to Pay Off Montage Debt

Last week we brought you the bombshell news that Southwestern Energy is buying out and merging in Montage Resources in an all-stock deal worth roughly $857 million (see Stop Press! Southwestern Energy Buying Montage Resources for $857M). In a series of announcements yesterday, Southwestern said it has just finished raising $152 million from selling more stock, and is in the process of raising another $350 million from issuing new notes (debt, IOUs). The money raised ($502 million total) will be used to pay off debt owed by Montage.

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