Antero Resources Corp. (NYSE: AR) intends to offer $500 million in aggregate principal amount of senior unsecured notes due 2023 in a private placement to eligible purchasers, the company said in a March 3 statement.

Antero plans to use the net proceeds of the offering to repay a portion of the outstanding borrowings under its credit facility. The securities in the offering have not been registered under the Securities Act or any state securities laws. Unless they are 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 and outside the U.S. pursuant to Regulation S.

Antero is an independent gas and oil company engaged in the acquisition, development and production of unconventional liquids-rich natural gas properties located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania.