Ascent Resources – Utica to repay second-lien term loan via new notes

By Tali Rackner

Norfolk, Va., March 22 – Ascent Resources – Utica, LLC plans to pay down its existing second-lien term loan using the proceeds from a new note offering, according to a press release.

Ascent Resources Utica Holdings, LLC and ARU Finance Corp. intend to issue $1.5 billion of senior unsecured notes in two series, due in 2022 and 2025. Ascent Resources – Utica will guarantee the notes.

Proceeds will also be used for general corporate purposes.

Ascent Resources – Utica was formerly known as American Energy – Utica, LLC and is an oil and gas company operating in the Utica Shale area of Ohio.

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