Ascent Resources to redeem $525 million of 10% notes due 2022 at 110

By Marisa Wong

Morgantown, W.Va., Sept. 26 – Ascent Resources Utica Holdings, LLC said it will redeem $525 million of its existing 10% senior notes due 2022 using proceeds from an offering of new 7% senior notes due 2026.

Ascent will redeem the 10% notes at 110 plus accrued interest, according to a press release.

Closing of the new notes offering and the redemption is expected to occur on Oct. 11.

The company said it will also use the proceeds from the 7% notes to pay down borrowings under its revolving credit facility.

Ascent is an oil and gas exploration and production company based in Oklahoma City.

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