Finance - Debt
The new five-year agreement with a syndicate of 29 financial institutions has a maximum facility size of $4 billion.
This represents a $1.0 billion increase over Antero's previous borrowing base announced in May 2014.
GE Energy Financial Services served as administrative agent and, through its GE Capital Markets Inc. affiliate, acted as lead arranger and book runner.
Current commitments total $320 million, with the ability to increase commitments up to $1.2 billion.
This is based on increasing internal cash flow and proceeds from sales of its Constellation units, the company added.
The next redetermination is scheduled for the spring of 2015, Carrizo said.
The offer is scheduled to close Oct. 14, Atlas Resource said.
Proceeds will support borrowings repayment, fees and expenses, drilling operations and general corporate purposes, the company said.
The notes, due 2018, will be offered as part of an indenture, the company said.
For $340 million, the company acquired assets in Sanish Field in Mountrail County, N.D.
The offer is scheduled to close Oct. 14, the company said.
No banks were added to the bank group, the company said.
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