Antero Midstream Corp. (AM), an operator of midstream energy assets, Tuesday announced a private offering of $500 million of senior unsecured notes due 2034.
The company plans to use the net proceeds from the offering along with Antero Midstream Partners LP's revolving credit facility and net proceeds from the disposition of all of Antero Midstream's Utica Shale midstream assets to fund the acquisition of HG Energy II Midstream Holdings, LLC from HG Energy II LLC.
The completion of this offering is not contingent on the consummation of the HG Acquisition or the Utica Disposition, and the HG Acquisition and the Utica Disposition are not contingent on the closing of this offering, the company said in a statement.
If the HG Acquisition has not been closed by June 2, 2026, then the offering may extend to a date no later than September 2, 2026 which the company terms as Special Mandatory Redemption Outside Date.
If Antero Midstream Partners determine that the acquisition will not close prior to the Special Mandatory Redemption Outside Date then the company will be required to redeem all of the notes at a price equal to 100 percent of the initial issue price of the Notes plus accrued and unpaid interest, excluding the special mandatory redemption date.
In pre-market activity, AM shares were trading at $18.89, up 1.10% on the New York Stock Exchange.
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