Ascent Resources to pay down revolver via senior note proceeds

By Marisa Wong

Morgantown, W.Va., Sept. 26 – Ascent Resources Utica Holdings, LLC said it will pay down borrowings under its revolving credit facility using proceeds from an offering of senior notes.

Ascent announced on Wednesday that it priced $600 million of 7% senior notes due 2026.

The company also plans to redeem $525 million of its existing 10% senior notes due 2022 using the note proceeds.

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

© 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.