Archrock Announces Private Offering of $250 Million of Senior Notes

HOUSTON, Dec. 14, 2020 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) today announced that Archrock Partners, L.P. (“Archrock Partners”), a wholly-owned subsidiary of Archrock, intends, subject to market and other conditions, to offer and sell to eligible purchasers $250 million aggregate principal amount of senior notes due 2028 (the “New Notes”). Archrock Partners Finance Corp., a wholly-owned subsidiary of Archrock Partners (together with Archrock Partners, the “Issuers”), will serve as co-issuer of the New Notes. The New Notes are being offered as additional notes under an indenture, dated December 20, 2019 (the “Indenture”), pursuant to which the Issuers previously issued $500 million aggregate principal amount of 6.250% senior notes due 2028 (the “Initial Notes”). The New Notes will have identical terms as the Initial Notes, other than the issue date, and the New Notes and the Initial Notes will be treated as a single class of securities under the Indenture. Archrock Partners intends to use the net proceeds of the sale of the New Notes to partially repay outstanding borrowings under its revolving credit facility and for general partnership purposes.

The New Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws. The New Notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Archrock

Archrock is an energy infrastructure company with a pure-play focus on midstream natural gas compression. Archrock is the leading provider of natural gas compression services to customers in the oil and natural gas industry throughout the United States and a leading supplier of aftermarket services to customers that own compression equipment in the United States.