By Paul A. Harris
Portland, Ore., Dec. 7 – Antero Resources Corp. priced an upsized $600 million issue of senior notes due March 1, 2025 (Ba3/BB) at par to yield 5% on Wednesday, according to a market source.
The issue size was increased from $550 million.
The yield printed at the tight end of yield talk in the 5 1/8% area.
J.P. Morgan Securities LLC ran the books.
The Denver-based oil and gas company plans to use a portion of the proceeds to finance the redemption of its $525 million of outstanding 6% senior notes due 2020 with the remaining proceeds to be used for general corporate purposes.
| Issuer: | Antero Resources Corp.
|
| Amount: | $600 million, increased from $550 million
|
| Maturity: | March 1, 2025
|
| Securities: | Senior notes
|
| Bookrunner: | J.P. Morgan Securities LLC
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| First call date: | March 1, 2020
|
| Trade date: | Dec. 7
|
| Settlement date: | Dec. 21
|
| Ratings: | Moody's: Ba3
|
| S&P: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5 1/8% area
|
| Marketing: | Quick to market
|
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