debt
confidence high
sentiment neutral
materiality 0.80
Kodiak Gas Services issues $1.2B in senior notes and amends ABL facility
Kodiak Gas Services, Inc.
- Issued $600M of 6.5% senior notes due 2033 and $600M of 6.75% notes due 2035.
- ABL facility amended: commitments reduced to $2.0B, maturity extended to Sept 5, 2030.
- ABL interest margin reduced to 1.75%-2.50% (SOFR) plus 0.25% unused commitment fee.
- New lenders: Canadian Imperial Bank, Mizuho, MUFG, U.S. Bank; Sunflower Bank exited.
- Notes unsecured; change of control triggers 101% repurchase offer if downgraded.
item 1.01item 2.03item 9.01