By Paul A. Harris
Portland, Ore., Sept. 8 – Antero Midstream Partners LP priced an upsized $650 million issue of eight-year senior notes (B1/BB) at par to yield 5 3/8% on Thursday, according to market sources.
The issue size was increased from $500 million.
The yield printed at the tight end of the 5 3/8% to 5 5/8% yield talk. Early guidance was 5¾%.
J.P. Morgan Securities LLC was the lead bookrunner.
The Denver-based limited partnership plans to use the proceeds to repay bank debt.
| Issuer: | Antero Midstream Partners LP
|
| Amount: | $650 million, increased from $500 million
|
| Maturity: | Eight years
|
| Securities: | Senior notes
|
| Lead bookrunner: | J.P. Morgan Securities LLC
|
| Coupon: | 5 3/8%
|
| Price: | Par
|
| Yield: | 5 3/8%
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 13
|
| Ratings: | Moody's: B1
|
| S&P: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5 3/8% to 5 5/8%
|
| Marketing: | Roadshow
|
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