Penn Virginia has raised $300 million in a sale of senior notes, Reuters reports. The company intends to use a portion of the proceeds to finance its previously announced tender offer for its outstanding 4.50% convertible senior subordinated notes due 2012.

The natural gas and oil company appointed JP Morgan, Bank of America Merrill Lynch, RBC, Wells Fargo and Barclays as the joint bookrunning managers for the transaction. The notes carry a coupon rate of 7.25%, and are due to mature on April, 15, 2019.

Click here for the release from Business Wire.