© 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 challenge $1.0 billion in mixture principal quantity of seven.125% senior unsecured notes due in 2029 at par worth. The non-public placement is scheduled to finalize on March 18, 2024, supplied it meets customary closing circumstances.
The Partnership anticipates web proceeds of roughly $984.4 million from the providing, after accounting for the preliminary purchasers’ reductions and estimated providing bills. The funds raised are meant for the reimbursement of a portion of the present borrowings underneath its asset-based revolving credit score facility.
Moreover, the proceeds will likely be allotted to redeem all the excellent 6.875% senior notes due in 2026 and canopy common partnership functions.
These senior notes haven’t been registered underneath the Securities Act of 1933 or any state securities legal guidelines and will likely be provided solely to certified institutional patrons and non-U.S. individuals in compliance with the relevant rules. They won’t be listed on any securities alternate 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 signify a suggestion to promote the securities nor a solicitation of a suggestion to purchase. Gross sales of those securities is not going to be made in any jurisdiction the place such a suggestion, solicitation, or sale can be illegal with out registration or qualification underneath the relevant securities legal guidelines.
The press launch incorporates forward-looking statements which are primarily based on assumptions and topic to uncertainties and dangers, lots of that are past the Partnership’s management. These may considerably affect 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 mild 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 range from anticipated outcomes are detailed within the Partnership’s Annual Report on Type 10-Okay for the fiscal 12 months ended December 31, 2023, filed with the Securities and Trade Fee.
This text is predicated on a press launch assertion from USA Compression Companions, LP.
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