USA Compression Partners, LP Announces Pricing Of $1B Offering Of Senior Notes
USA Compression Partners, LP (NYSE:USAC) (the "Partnership") today announced the pricing of a private placement to eligible purchasers by the Partnership and its wholly-owned subsidiary, USA Compression Finance Corp., of $1.0 billion in aggregate principal amount of 7.125% senior unsecured notes due 2029 at par. The offering is expected to close on March 18, 2024, subject to customary closing conditions.
The Partnership estimates that it will receive net proceeds of approximately $984.4 million, after deducting the initial purchasers' discounts and estimated offering expenses. The net proceeds from the offering will be used to repay a portion of existing borrowings under its asset-based revolving credit facility, redeem all of the 6.875% senior notes due 2026, and for general partnership purposes.