Antero Shops for $1.25B Cash from IOUs, Wants to Pay Down Old Debt

Seems that everyone (upstream and midstream) companies is in the market looking for cash in return for IOUs, otherwise known as “unsecured notes”. Today we reported that two midstream companies, MarkWest and Williams, have successfully landed $650 million and $3 billion in cash from IOUs, respectively. Now it’s Marcellus/Utica driller Antero Resources’ turn. Yesterday Antero issued two press releases announcing what appears to be two different tranches of notes–one from $750 million and the other for $500 million. Will cash-for-IOUs lightening strike a third time?…

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