Aethon United launches $750M unsecured notes offering

Aethon United BR LP launched a $750 million offering of five-year (non-call two) notes via lead-left bookrunner RBC. Joint active bookrunners are J.P. Morgan, Truist and Citi, while joint bookrunners are BofA Securities, BBVA, CIBC, Citizens and KeyBanc.

An investor call is scheduled for today at 1:30 p.m. ET, with pricing expected Jan. 27. Aethon launched a $700 million offering in September 2020, but the deal did not price.

Proceeds will be used to refinance the company's existing second-lien term loan, partially repay RBL borrowings and for general corporate purposes.

Banks are guiding for expected ratings of B/B3/B by S&P Global Ratings, Moody's and Fitch.

Dallas-based Aethon United is a natural-gas company primarily engaged in the development, exploitation and exploration of natural-gas properties, primarily in the Haynesville Basin.