USA Compression prices $1 billion senior notes offering By Investing.com
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© Reuters.
AUSTIN, Texas – USA Compression (NYSE:) Partners, LP (NYSE: USAC), a provider of compression services, has announced the pricing of a private placement of senior unsecured notes.
The company, alongside its subsidiary USA Compression Finance Corp., will issue $1.0 billion in aggregate principal amount of 7.125% senior unsecured notes due in 2029 at par value. The private placement is scheduled to finalize on March 18, 2024, provided it meets customary closing conditions.
The Partnership anticipates net proceeds of approximately $984.4 million from the offering, after accounting for the initial purchasers’ discounts and estimated offering expenses. The funds raised are intended for the repayment of a portion of the existing borrowings under its asset-based revolving credit facility.
Additionally, the proceeds will be allocated to redeem all of the outstanding 6.875% senior notes due in 2026 and cover general partnership purposes.
These senior notes have not been registered under the Securities Act of 1933 or any state securities laws and will be offered only to qualified institutional buyers and non-U.S. persons in compliance with the applicable regulations. They will not be listed on any securities exchange or automated quotation system, and the offering is contingent upon an offering memorandum.
USA Compression Partners has made it clear that this press release does not represent an offer to sell the securities nor a solicitation of an offer to buy. Sales of these securities will not be made in any jurisdiction where such an offer, solicitation, or sale would be unlawful without registration or qualification under the applicable securities laws.
The press release contains forward-looking statements that are based on assumptions and subject to uncertainties and risks, many of which are beyond the Partnership’s control. These could significantly impact the actual results and differ from those anticipated by the Partnership’s management. USA Compression Partners has no obligation to update or revise any forward-looking statements in light of new information or future events.
Investors are advised to exercise caution and not to place undue reliance on forward-looking statements, which are valid only as of the date of the press release. Material factors that could cause actual results to vary from expected results are detailed in the Partnership’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission.
This article is based on a press release statement from USA Compression Partners, LP.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters.
AUSTIN, Texas – USA Compression (NYSE:) Partners, LP (NYSE: USAC), a provider of compression services, has announced the pricing of a private placement of senior unsecured notes.
The company, alongside its subsidiary USA Compression Finance Corp., will issue $1.0 billion in aggregate principal amount of 7.125% senior unsecured notes due in 2029 at par value. The private placement is scheduled to finalize on March 18, 2024, provided it meets customary closing conditions.
The Partnership anticipates net proceeds of approximately $984.4 million from the offering, after accounting for the initial purchasers’ discounts and estimated offering expenses. The funds raised are intended for the repayment of a portion of the existing borrowings under its asset-based revolving credit facility.
Additionally, the proceeds will be allocated to redeem all of the outstanding 6.875% senior notes due in 2026 and cover general partnership purposes.
These senior notes have not been registered under the Securities Act of 1933 or any state securities laws and will be offered only to qualified institutional buyers and non-U.S. persons in compliance with the applicable regulations. They will not be listed on any securities exchange or automated quotation system, and the offering is contingent upon an offering memorandum.
USA Compression Partners has made it clear that this press release does not represent an offer to sell the securities nor a solicitation of an offer to buy. Sales of these securities will not be made in any jurisdiction where such an offer, solicitation, or sale would be unlawful without registration or qualification under the applicable securities laws.
The press release contains forward-looking statements that are based on assumptions and subject to uncertainties and risks, many of which are beyond the Partnership’s control. These could significantly impact the actual results and differ from those anticipated by the Partnership’s management. USA Compression Partners has no obligation to update or revise any forward-looking statements in light of new information or future events.
Investors are advised to exercise caution and not to place undue reliance on forward-looking statements, which are valid only as of the date of the press release. Material factors that could cause actual results to vary from expected results are detailed in the Partnership’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission.
This article is based on a press release statement from USA Compression Partners, LP.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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