Atlas Resource plans to sell $100 million tap of 7¾% notes due 2021 in Friday drive-by

By Paul A. Harris

Portland, Ore., May 16 - Atlas Energy Holdings Operating Co., LLC and Atlas Resource Finance Corp. plan to take part in an investor conference call scheduled for 11:30 a.m. ET Friday to discuss a proposed $100 million add-on to their 7¾% senior notes due Jan. 15, 2021 (expected ratings Caa1/B-), according to an informed source.

The deal is set to price Friday afternoon.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A and Regulation S with registration rights offering. Deutsche Bank Securities Inc. is the joint bookrunner.

The notes become callable on Jan. 15, 2017 at 103.875.

The Pittsburgh-based oil and gas exploration and production master limited partnership plans to use the proceeds to fund a portion of its previously announced acquisition of oil assets in the Rangely Field in Northwest Colorado. Prior to funding the acquisition, some or all of the proceeds may be used for general partnership purposes.

The original $275 million issue priced at par in January 2013.

Upon registration the add-on notes will be fungible with the original notes.

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