USA Compression Partners, LP (USAC): debt financing — USA Compression issues $1.0B 7.125% senior notes due 2029; proceeds to repay credit facility and redeem 2026 notes

USA Compression Partners, LP

$1,000,000,000 aggregate principal of 7.125% senior notes due 2029 issued under Indenture dated March 18, 2024.
Net proceeds to repay a portion of asset-based revolving credit facility borrowings and redeem all outstanding 6.875% senior notes due 2026.
Notes are senior unsecured obligations; guaranteed by existing and future restricted subsidiaries; interest payable semi-annually on March 15 and September 15 starting Sept 15, 2024.
Make-whole redemption prior to March 15, 2026; option to redeem up to 40% of principal with equity offering proceeds at 107.125% of principal.
Change of control repurchase at 101% of principal if followed by ratings decline, unless notes previously redeemed.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

USA Compression Partners, LP incurred senior notes of $1,000,000,000 with Computershare Trust Company, N.A. at 7.125% maturing 2029.

Instrument: senior notes
Principal: $1,000,000,000
Counterparty: Computershare Trust Company, N.A.
Rate: 7.125%
Maturity: 2029
Event: incurrence

Exact text from the filing

On March 18, 2024, in connection with the previously announced offering (the “Offering”) by USA Compression Partners, LP, a Delaware limited partnership (the “Partnership”), and its wholly-owned subsidiary, USA Compression Finance Corp., a Delaware corporation (“Finance Corp.” and, together with the Partnership, the “Issuers”) of $1,000,000,000 in aggregate principal amount of the Issuers’ 7.125% senior notes due 2029 (the “Notes”), the Partnership entered into an Indenture (the “Indenture”), among the Issuers, the Guarantors (as defined below) and Computershare Trust Company, N.A., as trustee.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

USA Compression Partners, LP entered into Indenture with Computershare Trust Company, N.A. valued at $1,000,000,000 in aggregate principal amount (effective 2024-03-18).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, N.A.
Value: $1,000,000,000 in aggregate principal amount
Effective: 2024-03-18

Exact text from the filing

of $1,000,000,000 in aggregate principal amount of the Issuers’ 7.125% senior notes due 2029 (the “Notes”), the Partnership entered into an Indenture (the “Indenture”), among the Issuers, the Guarantors

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299 debt financings filed in the last 30 days. Browse all debt financings →

USA Compression Partners, LP filing history →

Source: SEC EDGAR

accession 0001522727-24-000017

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