Ascent Resources Utica Holdings, LLC announced a nearly $600 million offering of senior notes.
The Oklahoma City energy firm said the offering, together with its whollly-owned subsidiary, ARU Finance Corporation, is a cash tender offer of its outstanding 7% Senior Notes due 2026. The offering totaled $597 million in available notes.
The Purchase Price will be based on a yield to November 1, 2024, the date of the next specified redemption price reduction under the indenture governing the Notes, and assuming the Notes are redeemed on November 1, 2024, at the specified redemption price for such date of 100.000% of the principal amount, as described in the Offer to Purchase.
The Tender Offer will expire at 5:00 p.m., New York City time, on October 8, 2024 unless extended or earlier terminated. Tendered Notes may be withdrawn at any time before the Expiration Time.