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Exterran Partners prices higher private offering of senior notes at USD350m.

M2 EQUITYBITES-April 1, 2014-Exterran Partners prices higher private offering of senior notes at USD350m

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US-based natural gas company Exterran Partners (NasdaqGS:EXLP) said on Monday that it has raised its private offering of senior notes due 2022 to USD350m from USD300m.

The company added the senior notes carry a coupon interest rate of 6% and are being sold at 98.371% of par, which equates to an effective yield to maturity of 6.25%.

Net proceeds of this offering are expected to be used by the company to fund a portion of the purchase price of its pending acquisition of natural gas compression assets and the repayment of borrowings outstanding under its revolving credit facility.

The offering is expected to close on 7 April 2014, subject to the satisfaction of customary closing conditions.

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Publication:M2 EquityBites (EQB)
Date:Apr 1, 2014
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