Archrock, Inc. (NYSE: AROC) has closed an $800 million senior notes offering through its wholly-owned subsidiary, Archrock Services, L.P. The notes, which have a 6.000% interest rate and are due in 2034, were co-issued by Archrock Partners Finance Corp., another subsidiary of Archrock Services, L.P.
The net proceeds from the offering will be used to repay a portion of the outstanding borrowings under Archrock's revolving credit facility. It's important to note that the notes have not been registered under the Securities Act of 1933, and may only be offered or sold in the United States to qualified institutional buyers or non-U.S. persons in transactions outside the country.
Archrock, headquartered in Houston, Texas, is an energy infrastructure company primarily focused on midstream natural gas compression. The company is committed to assisting its customers in producing, compressing, and transporting natural gas in a safe and environmentally responsible manner. Archrock provides natural gas compression services to customers in the energy industry across the U.S. and is also a leading supplier of aftermarket services to customers that own compression equipment.
This successful senior notes offering reflects Archrock's commitment to optimizing its capital structure and leveraging financing opportunities to support its operations and growth initiatives. With the closing of this offering, Archrock has taken a significant step in managing its debt obligations and strengthening its financial position. As a result of these announcements, the company's shares have moved 1.11% on the market, and are now trading at a price of $26.47. If you want to know more, read the company's complete 8-K report here.
