By Paul A. Harris
Portland, Ore., Sept. 8 – Antero Midstream Partners LP priced an upsized $650 million issue of eight-year senior notes (B1/BB) at par to yield 5 3/8% on Thursday, according to market sources.
The issue size was increased from $500 million.
The yield printed at the tight end of the 5 3/8% to 5 5/8% yield talk. Early guidance was 5¾%.
J.P. Morgan Securities LLC was the lead bookrunner.
The Denver-based limited partnership plans to use the proceeds to repay bank debt.
Issuer: | Antero Midstream Partners LP
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Amount: | $650 million, increased from $500 million
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Maturity: | Eight years
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Securities: | Senior notes
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Lead bookrunner: | J.P. Morgan Securities LLC
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Coupon: | 5 3/8%
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Price: | Par
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Yield: | 5 3/8%
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Trade date: | Sept. 8
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Settlement date: | Sept. 13
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Ratings: | Moody's: B1
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| S&P: BB
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Distribution: | Rule 144A and Regulation S
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Price talk: | 5 3/8% to 5 5/8%
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Marketing: | Roadshow
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