Archrock announces closing of $700 million of senior notes offering

Houston, aug. 26, 2024 (globe newswire) -- archrock, inc. (nyse: aroc) (“archrock”) today announced the closing of the previously announced private offering by archrock partners, l.p. (“archrock partners”), a wholly-owned subsidiary of archrock, of $700 million aggregate principal amount of 6.625% senior notes due 2032 (the “notes”). archrock partners finance corp. (“finance corp.” and, together with archrock partners, the “issuers”), a wholly-owned subsidiary of archrock partners, is the co-issuer of the notes. archrock intends to use the net proceeds from the offering of the notes to fund a portion of the cash consideration for the previously announced acquisition of 100% of the issued and outstanding membership interests of total operations and production services, llc (the “acquisition”), to fund the previously announced tender offer to purchase for cash up to an aggregate principal amount of $200 million of the issuers' 6.875% senior unsecured notes due 2027 and to pay related fees and expenses. archrock intends to use any remaining net proceeds for general corporate purposes, which may include the repayment of indebtedness, including a portion of the outstanding borrowings under archrock's revolving credit facility.
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