Antero Midstream Wraps Up IPO Worth ~$1.1 Billion
Antero Resources Corporation has announced the completion of Antero Midstream Partners LP's initial public offering of 46,000,000 common units representing limited partner interests in the Partnership at a price to the public of $25.00 per Common Unit, including the exercise in full by the underwriters of their option to purchase an additional 6,000,000 Common Units.
The Partnership will initially own gathering and compression assets that service Antero's natural gas, natural gas liquids and condensate production. The public owns 30.3% of the 151,881,914 outstanding common and subordinated units, and Antero and its affiliates own the remaining 69.7% limited partner interest in the Partnership.
Net proceeds received by the Partnership from the sale of 46,000,000 Common Units were approximately $1.1 billion, after deducting underwriting discounts, structuring fees and expenses. The Partnership used $843 million to repay assumed indebtedness from Antero and reimburse Antero for certain capital expenditures incurred. The Partnership will retain $250 million of the net proceeds for general partnership purposes.
Barclays and Citigroup acted as joint book-running managers and structuring agents for the offering. Wells Fargo Securities, Credit Suisse, J.P. Morgan and Morgan Stanley also acted as joint book-running managers.
/Book Runner
Northeast Related Financings
Announced Date | Title | Company | Value($MM) | Financing Type |
---|---|---|---|---|
2018-01-25 | Debt-Laden FTS International Files IPO, Looking To Raise $313 Million | FTS International Inc. | 313 | IPO |
2017-02-17 | NGP, Vantage Energy Acquisition Creates Blank Check Company; Files IPO | Vantage Energy Acquisition Corp | 460 | IPO |
2015-05-04 | EQT Subsidiary Commences Initial Public Offering | EQT GP Holdings LP | 621 | IPO |
2014-10-01 | CONE Midstream Wraps Up $442 Million IPO | Cone Midstream Partners Lp | 442 | IPO |