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Atlas Resources Partners solicits consents for 7¾% notes, 9¼% notes
By Angela McDaniels
Tacoma, Wash., Dec. 10 – Atlas Resource Partners, LP announced consent solicitations for the $375 million 7¾% senior notes due 2021 and $375 million 9¼% senior notes due 2021 issued by Atlas Resource Partners Holdings, LLC and Atlas Resource Finance Corp.
According to a company news release, the issuers want consents to increase the fixed dollar amount of secured debt allowed to be incurred under the indentures governing the notes to $1.05 billion, the approximate amount of secured debt currently permitted under the indentures.
The company said that “certain significant holders” of the notes indicated to the issuers that they would consent to the amendment.
Each consent solicitation will expire at 5 p.m. ET on Dec. 17.
Each consent solicitation is conditioned on the receipt of consents from holders of record as of Dec. 9 of a majority of the notes of that series. The consent solicitations are being made independently of each other.
The company is offering a consent fee of $10 for each $1,000 principal amount of notes.
The solicitation agent is Wells Fargo Securities, LLC (866 309-6316 or 704 410-4760). The information agent and tabulation agent is D.F. King & Co., Inc. (800 814-9324 or 212 269-5550).
Atlas Resource Partners is an exploration and production master limited partnership based in Fort Worth, Texas.
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