Antero Resources Issues Notice of Redemption for its 5.375% Senior Notes Due 2021

Rhea-AI Summary

On October 29, 2020, Antero Resources Corporation (NYSE: AR) announced plans to redeem all outstanding 5.375% senior notes due 2021 on November 30, 2020. The redemption will include the principal amount plus accrued interest. Funding for this redemption will come from a combination of asset sales, operational cash flow, and available credit. This strategic move underscores the company's efforts to manage its debt effectively while enhancing its financial position in the natural gas sector.

Positive

• Intends to redeem 5.375% senior notes due 2021, potentially improving debt profile.
• Funding for redemption sourced from asset sales, cash flow, and credit facilities, indicating strong liquidity management.

Negative

• None.

DENVER, Oct. 29, 2020 /PRNewswire/ -- Antero Resources Corporation (NYSE: AR) ("Antero Resources" or the "Company") today announced that it has issued a notice to the holders of its 5.375% senior notes due 2021 (the "2021 Notes") that the Company intends to redeem all of the 2021 Notes outstanding on November 30, 2020 at par, plus accrued and unpaid interest to the redemption date (the "Note Redemption"). The Company expects to utilize a combination of proceeds from its asset sales program, cash flow from operations and available borrowings under its revolving credit facility to fund the Note Redemption.

This press release is for informational purposes only and shall not constitute an offer to purchase the 2021 Notes or any other security.  Additional information concerning the terms of the redemption are fully described in the Notice of Redemption distributed to the holders of the 2021 Notes.  Beneficial holders of the 2021 Notes with any questions about the redemption should contact their respective brokerage firm or financial institution.

Antero Resources is an independent natural gas and natural gas liquids company engaged in the acquisition, development and production of unconventional properties located in the Appalachian Basin in West Virginia and Ohio. In conjunction with its affiliate, Antero Midstream (NYSE: AM), Antero is one of the most integrated natural gas producers in the U.S.  The Company's website is located at www.anteroresources.com.

This release includes "forward-looking statements." Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Resources' control. All statements, except for statements of historical fact, made in this release regarding the Note Redemption are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements speak only as of the date of this release. Although Antero Resources believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, Antero Resources expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.

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SOURCE Antero Resources Corporation

FAQ

When is Antero Resources redeeming its senior notes due 2021?

Antero Resources plans to redeem its 5.375% senior notes due 2021 on November 30, 2020.

What is the reason behind Antero Resources' notice of redemption for its 2021 notes?

The redemption aims to manage the company's debt, utilizing funds from asset sales, cash flow, and available borrowings.

What will Antero Resources pay its 2021 note holders during the redemption?

During the redemption, Antero Resources will pay the par value of the notes plus accrued and unpaid interest.

How will Antero Resources fund the redemption of its 2021 notes?

The company will fund the redemption through asset sales, operational cash flow, and available borrowings from its revolving credit facility.

What is the significance of Antero Resources planning to redeem its senior notes?

Redeeming the senior notes can improve Antero Resources' debt profile and financial stability, beneficial for investors.