Ascent Resources Utica Holdings, LLC Announces Closing Of $300 Million Offering Of 8.250% Senior Notes Due 2028

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Dec 17, 2020, 10:28 ET

OKLAHOMA CITY, Dec. 17, 2020 /PRNewswire/ -- Ascent Resources Utica Holdings, LLC (together with its subsidiaries, "Ascent") announced today that it, with its wholly-owned subsidiary, ARU Finance Corporation, has closed on a private offering of $300 million in aggregate principal amount of 8.250% senior unsecured notes due 2028 (the "2028 Notes"). Ascent used the proceeds of the 2028 Notes offering to pay down a portion of the outstanding borrowings under its revolving credit facility.

The 2028 Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. The 2028 Notes were offered and sold only to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act and to certain non-U. S. persons outside the United States in compliance with Regulation S under the Securities Act. This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the 2028 Notes in any state or jurisdiction in which such offer, solicitation or sale is unlawful.

About Ascent Resources:

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. With a continued focus on good corporate citizenship, Ascent is committed to mitigating its environmental impact, while delivering low-cost, clean-burning energy to our country and the world.

Contact:
Chris Benton
Director of Finance & Investor Relations
[email protected]

SOURCE Ascent Resources, LLC