Ascent Resources Utica Holdings LLC
Description
With ARU Finance Corp., will issue senior unsecured notes in two series due in 2022 and 2025 in private offering. Notes will be guaranteed by ARU. Net proceeds from each series will be used to retire the existing ARU second-lien term loan and to support general corporate purposes. Concurrently, ARU will enter a new senior secured revolving credit facility with an initial borrowing base of $650 million that matures on the fifth anniversary of the closing date.