Exterran to start roadshow Monday for $350 million eight-year notes

By Paul A. Harris

St. Louis, Nov. 12 - Exterran Holdings, Inc. will begin a roadshow on Monday for a $350 million offering of eight-year senior notes (expected ratings Ba3/BB), according to an informed source.

The deal is set to price during the Nov. 15 week.

Bank of America Merrill Lynch, Wells Fargo Securities, J.P. Morgan Securities LLC, BNP Paribas Securities Corp. and Credit Suisse Securities are the joint bookrunners for the Rule 144A with registration rights offering.

Barclays Capital Inc., Credit Agricole CIB, RBS Securities Inc., Scotia Capital, SMBC Nikko, BBVA Securities Inc., Mitsubishi UFJ Securities, Morgan Keegan & Co. Inc., Raymond James & Associates and SunTrust Robinson Humphrey Inc. are the co-managers.

The notes come with three years of call protection and have a 101% poison put.

Proceeds will be used to repay debt under the company's asset-based securitization facility and its revolver.

Exterran is a Houston-based provider of natural gas contract operations services.

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