Antero Resources Corp. (NYSE: AR) intends to offer $500 million senior unsecured notes due 2021 in a private placement to eligible purchasers.
Net proceeds will be used to finance a portion of the redemption of its outstanding 9.375% senior notes due 2017. Antero intends to use borrowings under its credit facility to finance the remainder of the redemption of the 2017 notes.
The securities to be offered have not been registered under the Securities Act or any state securities laws; and unless so registered, the securities may not be offered or sold in the U.S. except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A.
Antero Resources Corp. is an independent energy company engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties primarily located in the Appalachian Basin. The company is based in Denver.