(Source: Shutterstock.com)
Dallas-based natural gas company Aethon United, which is managed by Aethon Energy Management, gave notice on Sept. 19 of plans to offer $1 billion in senior notes.
The sale is a private placement, meaning it is available only to pre-selected investors and not on a public exchange, the company said in a press release.
Aethon did not give a date for the sale and noted that it was “subject to market conditions.” No date for the sale was announced. The senior notes would be due 2029.
Net proceeds from the sale would go towards redeeming Aethon’s 8.25% senior notes that are due in 2026, which have a $750 million principal amount outstanding under Aethon’s revolving credit facility.
The senior notes are not registered under the Securities Act and would, therefore, not be available for sale in the U.S., the company said.
Recommended Reading
Midstream M&A Adjusts After E&Ps’ Rampant Permian Consolidation
2024-10-18 - Scott Brown, CEO of the Midland Basin’s Canes Midstream, said he believes the Permian Basin still has plenty of runway for growth and development.
Post Oak-backed Quantent Closes Haynesville Deal in North Louisiana
2024-09-09 - Quantent Energy Partners’ initial Haynesville Shale acquisition comes as Post Oak Energy Capital closes an equity commitment for the E&P.
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
Aethon, Murphy Refinance Debt as Fed Slashes Interest Rates
2024-09-20 - The E&Ps expect to issue new notes toward redeeming a combined $1.6 billion of existing debt, while the debt-pricing guide—the Fed funds rate—was cut on Sept. 18 from 5.5% to 5%.
Dividends Declared Sept.16 through Sept. 26
2024-09-27 - Here is a compilation of dividends declared from select upstream, midstream and service and supply companies.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.