Kodiak Gas selling $400 million eight-year notes; early talk 8½%-8¾%

By Paul A. Harris

Portland, Ore., March 20 – Kodiak Gas Services LLC is expected to price $400 million of eight-year senior notes (B-) before the end of the March 18 week, market sources say.

Initial guidance has the deal shaping up with a yield in the 8½% to 8¾% area, a trader said.

J.P. Morgan Securities LLC is leading the offering.

The Montgomery, Texas-based services provider to the oil and gas industry plans to use the proceeds to pay down its revolving credit facility.

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