Archrock, Inc. Announces Upsizing and Pricing of $300 Million of Senior Notes
December 14, 2020 at 04:57 pm EST
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Archrock, Inc. announced the pricing of an upsized private offering by Archrock Partners, L.P, a wholly-owned subsidiary of Archrock, of $300 million aggregate principal amount of 6.250% senior notes due 2028 at an issue price of 104.875% of their face value. The size of the offering was increased by $50 million from the previously announced offering size of $250 million. The New Notes are being offered as additional notes under an indenture, dated December 20, 2019, pursuant to which the Issuers previously issued $500 million aggregate principal amount of 6.250% senior notes due 2028. The offering is expected to close on December 17, 2020, subject to the satisfaction of customary closing conditions. Archrock Partners Finance Corp., a wholly-owned subsidiary of Archrock Partners, will serve as co-issuer of the New Notes. The New Notes will have identical terms as the Initial Notes, other than the issue date, and the New Notes and the Initial Notes will be treated as a single class of securities under the Indenture. Archrock Partners intends to use the net proceeds of the sale of the New Notes to partially repay outstanding borrowings under its revolving credit facility and for general partnership purposes. The New Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws. The New Notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act.
Archrock, Inc. is an energy infrastructure company with a primary focus on midstream natural gas compression. The Company is a provider of natural gas compression services to customers in the energy industry throughout. the United States. It is a supplier of aftermarket services to customers that own compression equipment. Its segments include Contract Operations and Aftermarket Services. The Contract Operations business is comprised of its owned fleet of natural gas compression equipment that it use to provide operations services to its customers. The aftermarket services business provides a full range of services to support the compression needs of its customers that own compression equipment, including operations, maintenance, overhaul and reconfiguration services and sales of parts and components. It provides comprehensive contract operations services, such as personnel, equipment, tools, materials and supplies to meet its customerâs natural gas compression needs.
ARCHROCK, INC. 
