USA Compression Partners, LP (USAC): debt financing — USA Compression restructures credit facility to $1.75B ABL, matures 2030 with early triggers

USA Compression Partners, LP

New $1.75B asset-based revolving credit facility, matures August 27, 2030.
Early maturity if >$50M of 6.875% Senior Notes due 2027 outstanding on June 2, 2027, or >$50M of 7.125% Senior Notes due 2029 outstanding on Dec 14, 2028.
Borrowing base includes 85% of eligible accounts and 80% of net orderly liquidation value of compression units and treating assets.
Interest margin: Term SOFR plus 1.75%-2.50%, ABR plus 0.75%-1.50%, based on Total Leverage Ratio.
Financial covenants: Total Leverage ≤5.50x, Interest Coverage ≥2.50x, Secured Leverage ≤3.00x.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

USA Compression Partners, LP amended credit facility of up to $1.75 billion with JPMorgan Chase Bank, N.A. at SOFR plus the applicable margin ranging from 1.75% to 2.50% per annum maturing August 27, 2030.

Instrument: credit facility
Principal: up to $1.75 billion
Counterparty: JPMorgan Chase Bank, N.A.
Rate: SOFR plus the applicable margin ranging from 1.75% to 2.50% per annum
Maturity: August 27, 2030
Event: amendment

Exact text from the filing

The Amended and Restated Credit Agreement provides for an asset-based revolving credit facility to be made available to the Partnership in an aggregate amount of up to $1.75 billion.

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USA Compression Partners, LP filing history →

Source: SEC EDGAR

accession 0001193125-25-189871

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