Antero will accept notes from capped offer with 41.56% proration

Chicago, Aug. 17 – Antero Resources Corp. announced the early tender results of its capped tender offer for its $534 million outstanding 7 5/8% senior notes due 2029 (Cusip: 03674XAQ9, U0018LAG5), according to a press release on Wednesday.

As of the early tender deadline at 5 p.m. ET on Aug. 17, noteholders tendered $284,733,000 of the notes.

The company will apply a proration factor of around 41.56% to the tendered notes.

The maximum tender amount was set $300 million minus the amount of notes accepted from a separate any-and-all offer for the company’s $285,548,000 outstanding 8 3/8% senior notes due 2026 (Cusip: 03674XAN6, U0018LAF7).

Those results were previously reported. The company purchased $181,646,000 from the uncapped offer. Noteholders tendered an additional $2,803,000 of notes via guaranteed delivery procedures, but those noteholders did not actually perform the delivery requirement.

The total consideration being paid is $1,070 per $1,000 note which includes an early tender premium of $50 per note.

Interest is also being paid.

The tender offer expires at 11:59 p.m. ET on Aug. 31. However, the offer has been fully subscribed and Antero does not anticipate accepting any more notes.

Wells Fargo Securities, LLC (866 309-6316 or 704 410-4756) is acting as lead dealer manager. Truist Securities, Inc. and CIBC World Capital Markets Corp. are acting as co-dealer managers.

Ipreo LLC (888 593-9546, 212 849-3880 or ipreo-tenderoffer@ihsmarkit.com) is acting as tender agent and information agent for the offers.

The independent natural gas and oil company is based in Denver.

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