Simpson Thacher Represents Initial Purchasers in $400 Million Notes Offering by Ascent Resources
06.15.21
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Simpson Thacher represented the initial purchasers, led by Wells Fargo Securities, LLC, in connection with the Rule 144A/Regulation S offering by Ascent Resources Utica Holdings, LLC (“Ascent”) and ARU Finance Corporation of $400 million aggregate principal amount of 5.875% Senior Notes due 2029. Ascent used the net proceeds of the notes offering to pay down a portion of the outstanding borrowings under its revolving credit facility.
Ascent is one of the largest private producers of natural gas in the United States and is focused on acquiring, developing, producing, and operating natural gas and oil properties located in the Utica Shale in southern Ohio.
The Simpson Thacher team included John C. Ericson, Evan Zuckerman and Lorin Hom (Capital Markets); Brandan Still and Brandon Barton (Banking and Credit); Sophie Staples and Scott Grundei (Tax); Genevieve Dorment and Kate Mirino (Intellectual Property); Jennifer Neilsson and Patricia Adams (Executive Compensation and Employee Benefits); Tim Mulvihill (Environmental); and Jennie Getsin (Blue Sky). Summer Associate Nehemiah McGowan provided invaluable assistance.