New Issue: Antero Midstream sells upsized $650 million 8.5-year notes at par to yield 5¾%

By Paul A. Harris

Portland, Ore., June 25 – Antero Midstream Partners LP priced an upsized $650 million issue of 8.5-year senior notes (Ba3/BB+) at par to yield 5¾% in a quick-to-market Tuesday trade, according to a market source.

The yield printed at the wide end of the 5 5/8% to 5¾% yield talk but in the middle of initial price in the 5¾% area.

J.P. Morgan Securities LLC, Wells Fargo Securities LLC, BofA Securities Inc., Capital One Securities Inc., Credit Agricole CIB and Scotia Capital were the joint bookrunners.

The Denver-based oil and gas company plans to use the proceeds to repay bank debt.

Issuer:	Antero Midstream Partners LP
Amount:	$650 million, increased from $600 million
Maturity:	Jan. 15, 2028
Securities:	Senior notes
Bookrunners:	J.P. Morgan Securities LLC, Wells Fargo Securities LLC, BofA Securities Inc., Capital One Securities Inc., Credit Agricole CIB and Scotia Capital
Coupon:	5¾%
Price:	Par
Yield:	5¾%
Spread:	381 bps
Call protection:	3.5 years
Trade date:	June 25
Settlement date:	June 28
Ratings:	Moody's: Ba3
	S&P: BB+
Distribution:	Rule 144A and Regulation S for life
Price talk:	5 5/8% to 5¾%
Marketing:	Quick to market

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.