ASCENT RESOURCES UTICA HOLDINGS, LLC ANNOUNCES CLOSING OF $600 MILLION OFFERING OF 7.00% SENIOR NOTES DUE 2026 AND THE PARTIAL REDEMPTION OF ITS OUTSTANDING SENIOR NOTES
OKLAHOMA CITY, October 11, 2018 -- Ascent Resources Utica Holdings, LLC (together with its subsidiaries, "Ascent") announced today that it, with its wholly-owned subsidiary, ARU Finance Corporation, has closed on a private offering of $600 million in aggregate principal amount of 7.00% senior unsecured notes due 2026 (the "2026 Notes"). Ascent used the proceeds of the 2026 Notes offering to fund the redemption of $525 million of its existing 10.00% senior unsecured notes due 2022 (the "2022 Notes") at a price of 110.00% of the principal amount of 2022 Notes, plus accrued and unpaid interest (the “Redemption”), to fund premiums, fees and expenses related to the Redemption and the issuance of the 2026 Notes, and to pay down borrowings under Ascent's revolving credit facility.
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