Hanover Compressor expected to price $150 million seven-year notes on Monday

By Paul A. Harris

St. Louis, March 24 - Hanover Compressor Co. is expected to price a $150 million public offering of seven-year senior notes (existing B3/confirmed B) on Monday, according to market sources.

JP Morgan and Credit Suisse are joint bookrunners. The co-managers are Citigroup, Deutsche Bank Securities, Morgan Stanley and Wachovia Securities.

The notes will come with four years of call protection.

Proceeds, together with the company's credit facility, will be used to redeem its zero coupon subordinated notes due March 31, 2007.

Hanover Compressor is a Houston-based full service natural gas compression business.

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