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Dallas-based natural gas company Aethon United, which is managed by Aethon Energy Management, gave notice on Sept. 19 of plans to offer $1 billion in senior notes.
The sale is a private placement, meaning it is available only to pre-selected investors and not on a public exchange, the company said in a press release.
Aethon did not give a date for the sale and noted that it was “subject to market conditions.” No date for the sale was announced. The senior notes would be due 2029.
Net proceeds from the sale would go towards redeeming Aethon’s 8.25% senior notes that are due in 2026, which have a $750 million principal amount outstanding under Aethon’s revolving credit facility.
The senior notes are not registered under the Securities Act and would, therefore, not be available for sale in the U.S., the company said.
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