© Reuters.
AUSTIN, Texas – USA Compression (NYSE:) Companions, LP (NYSE: USAC), a supplier of compression providers, has introduced the pricing of a personal placement of senior unsecured notes.
The corporate, alongside its subsidiary USA Compression Finance Corp., will concern $1.0 billion in mixture principal quantity of seven.125% senior unsecured notes due in 2029 at par worth. The personal placement is scheduled to finalize on March 18, 2024, supplied it meets customary closing circumstances.
The Partnership anticipates internet proceeds of roughly $984.4 million from the providing, after accounting for the preliminary purchasers’ reductions and estimated providing bills. The funds raised are supposed for the reimbursement of a portion of the prevailing borrowings underneath its asset-based revolving credit score facility.
Moreover, the proceeds can be allotted to redeem all the excellent 6.875% senior notes due in 2026 and canopy normal partnership functions.
These senior notes haven’t been registered underneath the Securities Act of 1933 or any state securities legal guidelines and can be supplied solely to certified institutional patrons and non-U.S. individuals in compliance with the relevant rules. They won’t be listed on any securities change or automated citation system, and the providing is contingent upon an providing memorandum.
USA Compression Companions has made it clear that this press launch doesn’t characterize a proposal to promote the securities nor a solicitation of a proposal to purchase. Gross sales of those securities is not going to be made in any jurisdiction the place such a proposal, solicitation, or sale could be illegal with out registration or qualification underneath the relevant securities legal guidelines.
The press launch accommodates forward-looking statements which might be based mostly on assumptions and topic to uncertainties and dangers, lots of that are past the Partnership’s management. These may considerably influence the precise outcomes and differ from these anticipated by the Partnership’s administration. USA Compression Companions has no obligation to replace or revise any forward-looking statements in gentle of recent info or future occasions.
Traders are suggested to train warning and to not place undue reliance on forward-looking statements, that are legitimate solely as of the date of the press launch. Materials elements that might trigger precise outcomes to fluctuate from anticipated outcomes are detailed within the Partnership’s Annual Report on Type 10-Ok for the fiscal yr ended December 31, 2023, filed with the Securities and Alternate Fee.
This text is predicated on a press launch assertion from USA Compression Companions, LP.
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