Ascent Resources, LLC announced Thursday the early participation results of their private offer to exchange Convertible Subordinated Notes. The company has offered to exchange all of the outstanding 3.50 percent Convertible Subordinated Notes due 2021 (Existing Convertible Notes) for newly issued 3.50 percent Convertible Subordinated Notes due 2021 (New Convertible Notes) and incremental junior secured loans due 2019 (New Junior Secured Loans).
So far Ascent Resources has more than 80 percent in aggregate principal amount of the Existing Convertible Notes that had been validly tendered. The company also extended its early exchange offer to 5:00 pm Eastern on February 5, 2016. The final deadline for the exchange offer is February 18, 2016.
Ascent said it could extend the offer deadline.
