Antero Midstream Announces Launch of $500 Million Offering of Senior Notes

Rhea-AI Summary

Antero Midstream (NYSE: AM) has announced plans to offer $500 million in senior unsecured notes due 2033 through a private placement to eligible purchasers. The company intends to use the proceeds, along with borrowings from its revolving credit facility, to fully redeem its 5.75% senior notes due 2027.

The new notes will be offered exclusively to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act. The redemption of the 2027 notes is contingent on the completion of the new notes offering, while the new notes offering itself is not contingent on the redemption.

Positive

• Refinancing of existing debt indicates proactive debt management
• Extension of debt maturity from 2027 to 2033 improves debt structure
• Access to institutional debt markets demonstrates market confidence

Negative

• Additional borrowing from revolving credit facility will be required to complete the redemption
• Potential increase in interest expense depending on new notes' pricing
• Company faces various operational risks including commodity price volatility and inflation

News Market Reaction – AM

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-0.82% News Effect

On the day this news was published, AM declined 0.82%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

DENVER, Sept. 8, 2025 /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") announced today that, subject to market conditions, it intends to offer $500 million in aggregate principal amount of senior unsecured notes due 2033 (the "Notes") in a private placement to eligible purchasers.

Antero Midstream intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility, to redeem in full its 5.75% senior notes due 2027 (the "2027 Notes") at a redemption price of 100% plus accrued but unpaid interest. The redemption of the 2027 Notes is expected to be conditioned on the completion of the offering of the Notes. The offering of the Notes is not contingent upon the completion of such redemption.

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 will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States pursuant to Regulation S under 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. This press release shall not constitute a notice of redemption of the 2027 Notes.

Antero Midstream Corporation is a Delaware corporation that owns, operates and develops midstream gathering, compression, processing and fractionation assets located in the Appalachian Basin, 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 incidental to our 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, supply chain or other disruptions, environmental risks, Antero Resources Corporation's drilling and completion and other operating risks, regulatory changes or changes in law, 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, cybersecurity risks, the state of markets for, and availability of, verified quality carbon offsets 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, 2024 and its subsequently filed Quarterly Reports on Form 10-Q.

 

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SOURCE Antero Midstream Corporation

FAQ

What is the size of Antero Midstream's (AM) new senior notes offering in 2025?

Antero Midstream is offering $500 million in senior unsecured notes due 2033 through a private placement to eligible purchasers.

How will Antero Midstream (AM) use the proceeds from the 2033 notes offering?

The proceeds will be used, along with borrowings from its revolving credit facility, to redeem in full its 5.75% senior notes due 2027.

Who can purchase Antero Midstream's (AM) new senior notes?

The notes are offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.

What are the main risks facing Antero Midstream's (AM) business operations?

Key risks include commodity price volatility, inflation, supply chain disruptions, environmental risks, regulatory changes, and cybersecurity risks.

Is the redemption of AM's 2027 notes guaranteed with this offering?

No, the redemption of the 2027 notes is conditional on the completion of the new notes offering, while the new notes offering is not contingent on the redemption.