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Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
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Antero Resources (AR) Prices $500 Million Senior Notes Offering
Antero Resources Corporation (AR - Free Report) priced senior notes with $500 million in aggregate principal amount. The unsecured notes will mature on 2026 and carry an interest rate of 8.375%.
Notably, the notes that are priced at par are being offered to eligible investors through private placements and the offering is likely to close on Jan 4, 2021. With the deduction of estimated expenses and initial purchasers' discounts, the independent natural gas and natural gas liquids company expects a net proceeds of nearly $494 million.
The company plans to allocate a part of the net proceeds toward the redemption of senior notes with aggregate principal amount of $350 million and are set to mature on 2022 with interest rates of 5.125%. The upstream energy player intends to allocate the remaining proceeds for the repayment of borrowing under its credit facility.
Antero Resources Corporation Price
Antero Resources Corporation price | Antero Resources Corporation Quote
Headquartered in Denver, CO, Antero Resources currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy space are Summit Midstream Partners, LP , DCP Midstream, LP and HighPoint Resources Corporation . While Summit Midstream carries a Zacks Rank #2 (Buy), DCP Midstream and HighPoint sport aZacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Summit Midstream has seen upward earnings estimate revisions for 2020 in the past seven days.
DCP Midstream has seen upward estimate revisions for 2020 earnings in the past 30 days.
HighPoint is likely to see earnings growth of 167.5% in 2020.
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