Ascent Resources to prepay second-lien loan with revolver borrowings

By Sara Rosenberg

New York, April 28 – Ascent Resources Utica Holdings LLC issued a notice of prepayment for the full redemption of its roughly $550 million second-lien term loan due 2025 on May 3, according to a news release.

Wilmington Trust is the administrative agent on the second-lien loan.

The company plans to use borrowings under its revolving credit facility to fund the loan prepayment.

Also, the company announced that it entered into a definitive note purchase agreement providing for a private placement of an additional $212.6 million of its existing 8¼% senior notes due 2028.

Proceeds from the private placement will be used to pay down revolver borrowings.

Ascent Resources is an Oklahoma City-based producer of natural gas.

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