Finance & Investing | Capital Markets | Private Equity Activity
Marcellus-Focused Antero Ups Lender Commitments to $1.45B
Print
|
Antero Resources has reported that, effective June 27, 2013, the lender commitments under its bank credit facility increased to $1.45 billion.
This represents a $250 million increase over Antero's previous lender commitments of $1.2 billion driven by the May 2013 borrowing base redetermination. The $1.45 billion in commitments can be expanded to the full $1.75 billion borrowing base upon bank approval.
The bank syndicate, which is co-led by JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A., is a diversified group consisting of nine domestic and seven foreign institutions. The next borrowing base redetermination is expected to occur in September 2013. Antero has $25 million of debt maturing prior to the May 2016 maturity of the credit facility.