FORT WORTH, Texas, Dec. 29, 2015 /PRNewswire/ -- Atlas Resource
Partners, L.P. (NYSE: ARP)
("ARP") announced today that the
Issuers (as defined below) have received the Requisite Consents (as
defined below) from holders of their outstanding 7.75% Senior Notes
due 2021 (the "7.75% Notes") (CUSIP 049296AC0) issued by Atlas
Resource Partners Holdings, LLC and Atlas Resource Finance
Corporation (each individually an "Issuer" and together the
"Issuers") and guaranteed by ARP
and certain subsidiary guarantors, to adopt the proposed amendments
(the "Amendments") to the indenture (the "7.75% Indenture")
governing the 7.75% Notes that the Issuers had requested pursuant
to their previously announced consent solicitation for the 7.75%
Notes (the "7.75% Notes Consent Solicitation"). Adoption of
the Amendments required the consent of holders of record as of
December 9, 2015 of a majority of the
outstanding aggregate principal amount of the 7.75% Notes (the
"Requisite Consents"). The Amendments, among other things,
increase the fixed dollar amount of secured indebtedness permitted
to be incurred under the 7.75% Indenture to $1,000 million from $500.0
million. For a full description of the Amendments, see
ARP's press release dated
December 27, 2015. Currently,
$375,000,000 in aggregate principal
amount of the 7.75% Notes is outstanding.
The 7.75% Notes Consent Solicitation expired at 5:00 p.m., New York
City time, on Tuesday, December 29,
2015 (the "Expiration Date"). Due to the short window
provided to consent to the amended consent solicitation, the
Issuers have decided to pay the consent fee for the 7.75% Notes
Consent Solicitation to all holders of the 7.75% Notes as of the
Record Date.
Following receipt of the Requisite Consents, the Issuers,
ARP, the subsidiary guarantors,
and the trustee under the 7.75% Indenture executed a supplemental
indenture incorporating the Amendments into the 7.75% Indenture. At
that time, the Amendments effected by such supplemental indenture
became effective and consents could no longer be revoked; however,
the Amendments will not become operative until the Consent Fee is
paid to the holders who have delivered (and not revoked) valid
consents prior to the Expiration Date.
Wells Fargo Securities, LLC acted as the Solicitation Agent in
connection with the consent solicitation, and D. F. King & Co., Inc. served as Information
Agent and Tabulation Agent.
Cautionary Note Regarding Forward-Looking
Statements
Certain matters discussed within this press release are
forward-looking statements. Although ARP believes the expectations reflected in
such forward-looking statements are based on reasonable
assumptions, it can give no assurance that its expectations will be
attained. Forward-looking statements speak only as of the
date hereof, and ARP assumes no
obligation to update such statements, except as may be required by
applicable law.
Atlas Resource Partners, L.P. (NYSE: ARP) is an exploration & production
master limited partnership which owns an interest in over 14,500
producing natural gas and oil wells, located primarily in
Appalachia, the Barnett Shale (TX), the Mississippi Lime (OK), the
Eagle Ford Shale (TX), the Raton Basin (NM), Black Warrior Basin
(AL) and the Rangely Field (CO). ARP is also the largest sponsor of natural gas
and oil investment partnerships in the U.S. For more information,
please visit our website at www.atlasresourcepartners.com, or
contact Investor Relations at
InvestorRelations@atlasenergy.com.
Atlas Energy Group, LLC (NYSE: ATLS) is a limited
liability company which owns the following interests: all of the
general partner interest, incentive distribution rights and an
approximate 23% limited partner interest in its upstream oil &
gas subsidiary, Atlas Resource Partners, L.P.; the general partner
interests, incentive distribution rights and limited partner
interests in Atlas Growth Partners, L.P.; and a general partner
interest in Lightfoot Capital Partners, an entity that invests
directly in energy-related businesses and assets. For more
information, please visit our website at www.atlasenergy.com, or
contact Investor Relations at
InvestorRelations@atlasenergy.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/atlas-resource-partners-announces-successful-completion-of-consent-solicitation-for-775-senior-notes-300197677.html
SOURCE Atlas Resource Partners, L.P.