Antero Resources guides $500 million eight-year senior notes at 5½% area; pricing Thursday

By Paul A. Harris

Portland, Ore., Oct. 24 - Antero Resources Corp. is whispering its $500 million offering of eight-year senior notes in the 5½% area, market sources say.

However, the deal, which is in the market as a Thursday drive-by, is shaping up to come inside of that level, according to an informed source.

J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Barclays, Capital One and Credit Agricole CIB are the joint bookrunners.

BMO Securities, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Mitsubishi UFJ Securities are the senior co-managers.

Comerica Securities, TD Securities, U.S. Bancorp Investments Inc., BB&T Capital Markets, Fifth Third Securities Inc. and KeyBanc Capital Markets are the co-managers.

The Rule 144A notes come with three years of call protection.

The Denver-based oil and gas company plans to use the proceeds, along with borrowings under its credit facility, to finance the redemption of its 9 3/8% senior notes due in 2017.

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