Barclays tipped to lead on new $10bn US float

David Hellier
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BARCLAYS, which recently found itself advising on two of the biggest US deals of the year on one day, is reported to have been hired by Antero Resources, an oil and gas company controlled by Warburg Pincus, to lead on a $10bn flotation.

The Denver, Colorado-based company has hired Barclays, JP Morgan and Citigroup to lead the deal, according to a report yesterday from the Reuters news agency.

Barclays declined to comment but banking sources said if it were to be leading the deal it would be a major boost for the bank’s growing US franchise.

The bank, which is committed to a more ethical way of conducting business after being caught up in the Libor interest rate manipulation scandal, has flourished in investment banking across the Atlantic ever since the purchase of the US assets of Lehman.

Last month it was announced on one day that Barclays was advising Dish Network on its $25.5bn offer for Sprint Nextel and Thermo Fischer Scientific on its $13.6bn acquisition of Life Technologies. The bank also advised on last year’s flotation of Facebook.

Antero reported adjusted earnings before interest, tax, depreciation and amortization of $434.3m in 2012, up from $340.8m in 2011.