debt
confidence high
sentiment neutral
materiality 0.70
USA Compression prices $1.0B 7.125% senior notes due 2029; proceeds to repay revolver & redeem 2026 notes
USA Compression Partners, LP
- $1.0B aggregate principal of 7.125% senior unsecured notes due 2029 priced at par.
- Net proceeds of ~$984.4M; closing expected March 18, 2024.
- Proceeds to repay ABL revolver borrowings and redeem all $400M 6.875% notes due 2026.
- Notes offered via private placement to QIBs under Rule 144A and Reg S; not registered.
- J.P. Morgan Securities LLC acted as representative of the initial purchasers.