USA Compression Partners Announces New Credit Facility
08 Dezember 2021 - 11:36PM
Business Wire
USA Compression Partners, LP (NYSE: USAC) (“USA Compression” or
the “Partnership”) announced today that it had entered into the
Seventh Amended and Restated Credit Agreement effective today,
December 8, 2021, extending the maturity of its senior secured
credit facility until December 2026. The credit facility is led by
J.P. Morgan and includes 17 additional financial institutions with
a combined commitment of $1.6 billion.
Eric Long, President and CEO of USA Compression, commented,
“This is the latest extension of our credit facility, which dates
back over 15 years, with many of the same banks and financial
institutions having participated continually at increasing levels
of commitments since the inception. The Partnership decided to take
advantage of a strong lending environment and opportunistically
reset the tenor for another 5 years prior to the existing credit
facility going current early next year. The new credit facility
provides the Partnership with additional flexibility at lower
interest margin spreads – consistent with the overall compression
financing market and other industry peers. Given our current drawn
balance of approximately $514 million, this new credit facility
provides the Partnership ample capacity with which to grow and
manage the business in the coming years to the benefit of all our
stakeholders. We are very grateful for the long-term support of USA
Compression by the entire bank group – and their continued votes of
confidence in USA Compression’s stable, large horsepower,
infrastructure focused business model.”
ABOUT USA COMPRESSION PARTNERS, LP
USA Compression Partners, LP is a growth-oriented Delaware
limited partnership that is one of the nation’s largest independent
providers of natural gas compression services in terms of total
compression fleet horsepower. USA Compression partners with a broad
customer base composed of producers, processors, gatherers and
transporters of natural gas and crude oil. USA Compression focuses
on providing natural gas compression services to infrastructure
applications primarily in high-volume gathering systems, processing
facilities and transportation applications. More information is
available at usacompression.com.
FORWARD-LOOKING STATEMENTS
Statements in this press release may be forward-looking
statements as defined under federal law. These forward-looking
statements rely on a number of assumptions concerning future events
and are subject to a number of uncertainties and factors, many of
which are outside the control of USA Compression, and a variety of
risks that could cause results to differ materially from those
expected by management of USA Compression. USA Compression
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over
time.
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version on businesswire.com: https://www.businesswire.com/news/home/20211208006096/en/
USA Compression Partners, LP Matthew Liuzzi, CFO (512)
369-1624 ir@usacompression.com
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