Archrock to sell $250 million tap of 6¼% notes due 2028 on Monday; initial talk 104-104.5

By Paul A. Harris

Portland, Ore., Dec. 14 – Archrock Partners, LP and Archrock Partners Finance Corp. plan to price a $250 million add-on to their 6¼% senior notes due April 1, 2028 (expected ratings B2/B+) in a Monday drive-by trailing a late-morning conference call with investors, according to market sources.

Initial price talk is 104 to 104.5, a trader said.

Left lead bookrunner RBC Capital Markets LLC will bill and deliver for the Rule 144A and Regulation S for life deal. J.P. Morgan Securities LLC, Wells Fargo Securities LLC, BofA Securities Inc., Citigroup Global Markets Inc., Regions Securities LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC are the joint bookrunners.

Truist Securities Inc. is the senior co-manager. SMBC Nikko Securities America Inc., CIT Capital Securities LLC, PNC Capital Markets LLC, Fifth Third Securities Inc., BBVA Securities Inc., Raymond James & Associates and FHN Financial Securities Corp. are the co-managers.

The Houston-based energy infrastructure company plans to use the proceeds to pay down its credit facility and for general partnership purposes.

The original $500 million issue priced in December 2019.

The Rule 144A add-on notes will immediately become fungible with the original notes. The Regulation S add-on notes will become fungible with the original notes after 40 days.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.