Exterran talks $300 million notes to yield 6¼% to 6½%, pricing Friday

By Paul A. Harris

Portland, Ore., March 21 - Exterran Partners, LP and EXLP Finance Corp. talked their $300 million offering of eight-year senior notes (B2/B-) to yield 6¼% to 6½% including approximately 1.5 points of original issue discount, a syndicate source said on Thursday.

The books close at 4 p.m. ET Thursday, and the deal is set to price on Friday.

Wells Fargo Securities LLC is the left bookrunner. Credit Agricole CIB, J.P. Morgan Securities LLC, RBC Capital Markets and RBS Securities Inc. are the joint bookrunners.

BofA Merrill Lynch is the senior co-manager. BB&T, Goldman Sachs & Co., Mitsubishi, PNC Capital Markets, Raymond James, Regions Securities LLC, Scotia Capital and SMBC Nikko are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with four years of call protection.

The Houston-based provider of services to the natural gas industry plans to use the proceeds to repay revolver debt.

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