Antero to price $500 million senior notes in Wednesday drive-by

By Paul A. Harris

Portland, Ore., April 23 - Antero Resources Corp. plans to price a $500 million offering of senior notes due 2022 (expected ratings B1/BB-) in a quick-to-market transaction on Wednesday following a late-morning conference call with investors, according to a market source.

J.P. Morgan Securities LLC, Citigroup Global Markets, Wells Fargo Securities LLC, Credit Agricole CIB, Barclays and Capital One South Coast are the joint bookrunners for the Rule 144A and Regulation S with registration rights deal.

BMO Securities, Mitsubishi UFJ, Credit Suisse Securities (USA) LLC are the senior co-managers.

Scotia Capital, TD Securities, US Bancorp, BB&T, CIBC World Markets Comerica, Fifth Third, KeyBanc Capital Markets, PNC Capital Markets, SMBC Nikko and ABN Amro are the co-managers.

The notes become callable after three years at par plus 75% of the coupon. A special call feature allows for the redemption of 100% of the issue at par prior to Dec. 1, 2015 upon a change of control.

The Denver-based independent oil and natural gas company plans to use the proceeds to redeem its 7¼% senior notes due 2019 and to repay a portion of its credit facility.

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