Antero Midstream Partners LP Launches IPO Of 37.5 Mln Common Units

(RTTNews) - Antero Resources Corp. (AR) announced the commencement of the Antero Midstream Partners LP initial public offering or IPO of 37.5 million common units, representing limited partner interests in the partnership, at an expected IPO price between $19.00 and $21.00 per unit, according to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission or SEC.

The partnership expects to grant the underwriters a 30-day option to buy up to an additional 5.625 million common units. The partnership has been approved to list its common units on the New York Stock Exchange under the symbol "AM," subject to official notice of issuance. Initially, the partnership would own gathering and compression assets to service Antero's production.

The common units being offered represent around 24.7% limited partner interest in the partnership. Antero and its affiliates would hold the remaining nearly 75.3% limited partner interest in the partnership or approximately 71.6% if the underwriters exercise in full their option to purchase additional common units. Antero Midstream Management LLC, an unit of Antero's controlling stockholder, would act as the general partner of the partnership and would own the partnership's incentive distribution rights.

Barclays and Citigroup would serve as joint book-running managers and structuring agents for the offering. Wells Fargo Securities, Credit Suisse, J.P. Morgan and Morgan Stanley would also act as joint book-running managers.