$856 million in notes offered by Ascent Resources

 

Ascent Resources Utica Holdings, LLC announced this week that nearly $856 million of its Senior notes offered by the firm were tendered.

The $855.6 million in outstanding 10% Senior Notes due 2022 were exchanged for new 9% Senior Notes due 2027.

Ascent said $538 million of the new term loans would be borrowed and $317.6 million would be issued in exchange for old notes. Ascent expects to make payment for Old Notes it has accepted for exchange as of the Early Tender Deadline on
October 13, 2020.

Ascent is the eighth largest producer of natural gas in the United States in terms of daily production and is focused on acquiring, developing, producing, and operating natural gas and oil properties located in the Utica Shale in Southeast Ohio.

Source: Ascent Resources

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