Finance & Investing | Debt | Capital Markets | Private Equity Activity
Antero Prices $600 Million Senior Note Offering
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Antero Resources Corporation has reported the pricing of its private placement to eligible purchasers of $600 million in aggregate principal amount of 5.125% senior unsecured notes due December 2022 at par.
The offering is expected to close on May 6, 2014, subject to customary closing conditions.
Antero estimates that it will receive net proceeds of approximately $591.6 million, after deducting the initial purchasers' discounts and estimated expenses, of which it intends to use $277.5 million to finance the redemption of its outstanding 7.25% senior notes due 2019 and intends to use the remaining net proceeds to repay a portion of the outstanding borrowings under its credit facility.