DENVER, Jan. 11,
2024 /PRNewswire/ -- Antero Midstream Corporation
(NYSE: AM) ("Antero Midstream") announced today the
pricing of its upsized private placement to eligible purchasers of
$600 million in aggregate principal
amount of 6.625% senior unsecured notes due 2032 at par (the
"Notes"). The offering is expected to close on January 16, 2024, subject to customary closing
conditions.
Antero Midstream estimates that it will receive net proceeds of
approximately $593 million, after
deducting the initial purchasers' discounts and estimated expenses.
Antero Midstream intends to use the net proceeds from the offering
to repay indebtedness under its revolving credit facility, which
amounts may be reborrowed for general corporate purposes, including
repayment of near-term maturities.
The Notes to be offered have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws, and unless so registered, may not be offered
or sold in the United States
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
applicable state securities laws. The Notes are being offered only
to persons reasonably believed to be qualified institutional buyers
in reliance on Rule 144A under the Securities Act and outside
the United States pursuant to
Regulation S under the Securities Act.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the Notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
Antero Midstream Corporation is a Delaware corporation that owns, operates and
develops midstream gathering, compression, processing and
fractionation assets located in the Appalachian Basin, as well as
integrated water assets that primarily service Antero Resources
Corporation's properties.
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 Midstream's
control. All statements, except for statements of historical fact,
made in this release regarding activities, events or developments
Antero Midstream expects, believes or anticipates will or may occur
in the future, such as statements regarding the proposed offering
and the intended use of proceeds are forward-looking statements
within the meaning of Section 27A of the Securities Act and Section
21E of the Securities Exchange Act of 1934, as amended. All
forward-looking statements speak only as of the date of this
release. Although Antero Midstream 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 Midstream expressly disclaims any
obligation to and does not intend to publicly update or revise any
forward-looking statements.
Antero Midstream cautions you that these forward-looking
statements are subject to all of the risks and uncertainties
incident to our business, most of which are difficult to predict
and many of which are beyond Antero Midstream's control. These
risks include, but are not limited to, commodity price volatility,
inflation, supply chain or other disruptions, environmental risks,
Antero Resources Corporation's drilling and completion and other
operating risks, regulatory changes or changes in law, the
uncertainty inherent in projecting Antero Resources Corporation's
future rates of production, cash flows and access to capital, the
timing of development expenditures, impacts of geopolitical events,
including the conflicts in Ukraine
and in the Middle East, and world
health events, cybersecurity risks, the state of markets for, and
availability of, verified quality carbon offsets and the other
risks described under the heading "Item 1A. Risk Factors" in Antero
Midstream's Annual Report on Form 10-K for the year ended
December 31, 2022 and its
subsequently filed Quarterly Reports on Form 10-Q.
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SOURCE Antero Midstream Corporation