Antero Announces Pricing of Upsized Offering of Additional $500 Million of Senior Notes

DENVER, Sept. 4, 2014 /PRNewswire/ -- Antero Resources Corporation (NYSE: AR) ("Antero" or the "Company") announced today the pricing of its private placement to eligible purchasers of an additional $500 million in aggregate principal amount of 5.125% Senior Notes due December 1, 2022 at 100.5%, equating to a yield to call of 5.02%.  The new notes are being offered as additional notes under the indenture pursuant to which Antero issued $600 million in aggregate principal amount of its 5.125% Senior Notes due December 1, 2022 in a private placement on May 6, 2014.  The new notes and the initial notes will have identical terms, other than the issue date, and will constitute part of the same series of securities. The offering is expected to close on September 18, 2014, subject to customary closing conditions.

Antero estimates that it will receive net proceeds of approximately $495.6 million, after deducting the initial purchasers' discounts and estimated expenses, which it intends to use to repay a portion of the outstanding borrowings under its credit facility.

The securities 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, the securities 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 expected to be eligible for trading by qualified institutional buyers in the United States under Rule 144A and outside the United States pursuant to Regulation S.

This press release is being issued pursuant to Rule 135c under the Securities Act, and 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 Resources is an independent oil and natural gas company engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania.

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SOURCE Antero Resources Corporation