Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Paydowns > Headlines for Altivity Packaging, LLC > News item |
Ascent Resources to prepay junior-lien term loans via common units
By Tali Rackner
Norfolk, Va., Nov. 10 – Ascent Resources, LLC plans to use about $479 million of proceeds from its $787 million common unit offering to fully prepay the junior-lien term loans outstanding under Ascent Resources – Utica, LLC’s amended and restated credit agreement, according to a press release.
The loans will be prepaid on Nov. 15.
In addition, the company said it will contribute $175 million of proceeds to Ascent Resources – Utica to fund its ongoing Utica natural gas and oil development program in Ohio. The remaining $132 million will be used to further Utica development, liability management purposes or capital structure optimization.
Ascent Resources – Utica was formerly known as American Energy – Utica, LLC and is an oil and gas company operating in the Utica Shale area of Ohio.
© 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.