Back to top

Image: Bigstock

Antero Midstream (AM) Prices Upsized Senior Unsecured Notes

Read MoreHide Full Article

Antero Midstream Corporation (AM - Free Report) announced that it has priced $750 million in aggregate principal amount of senior unsecured notes.

The upsized notes, carrying an interest rate of 5.375% and likely to mature by 2029, are priced on par. The company announced that the offering is likely to close by Jun 8, after meeting the customary closing conditions.

Following the deduction of estimated costs along with initial purchasers' discounts, the midstream energy company is likely to receive net proceeds of roughly $742 million. The company is planning to allocate the offering’s net proceeds to financing the redemption of entire $650 million in aggregate principal amount, carrying an interest rate of 5.375%. The notes are scheduled to mature by 2024. The remaining of the net proceeds will likely get allocated toward repayment of borrowings under its credit facility.

Headquartered in Denver, CO, Antero Midstream is primarily involved in operating and developing assets in the Appalachian Basin that are being used for midstream gathering, compression, processing and fractionation. The company also provides services to Antero Resources Corporation's (AR - Free Report) properties through its integrated water assets.

It is to be noted that like other midstream firms like Kinder Morgan, Inc. (KMI - Free Report) and The Williams Companies, Inc. (WMB - Free Report) , Antero Midstream’s business is not significantly exposed to the coronavirus pandemic-induced volatility in oil and gas prices.

Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency have sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.

See 3 crypto-related stocks now >>