DENVER, Nov. 5, 2020 /PRNewswire/ -- Antero
Midstream Corporation (NYSE: AM) ("Antero Midstream")
announced today the pricing of the private placement by Antero
Midstream Partners LP ("Antero Midstream Partners"), an indirect,
wholly owned subsidiary of Antero Midstream, to eligible purchasers
of $550 million in aggregate
principal amount of 7.875% senior unsecured notes due 2026 at par
(the "Notes"). The offering is expected to close on
November 10, 2020, subject to
customary closing conditions.
Antero Midstream estimates that proceeds of the offering will be
approximately $544 million, after
deducting the initial purchasers' discounts and estimated expenses,
which Antero Midstream Partners intends to use to repay a portion
of the outstanding borrowings under its credit facility.
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 expected to be
eligible for trading by qualified institutional buyers under Rule
144A of the Securities Act and outside the United States pursuant to Regulation S of
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 West
Virginia and Ohio, 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 Antero Midstream's 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, environmental risks, Antero
Resources Corporation's drilling and completion and other operating
risks, regulatory changes, 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 world health events, including the
COVID-19 pandemic, potential shut-ins of production by producers
due to lack of downstream demand or storage capacity, 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, 2019 and its
subsequently filed Quarterly Reports on Form 10-Q.
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SOURCE Antero Midstream Corporation