Exterran starts roadshow for $300 million eight-year senior notes; Wells Fargo is left bookrunner

By Paul A. Harris

Portland, Ore., March 27 – Exterran Energy Solutions, LP and EES Finance Corp., wholly owned subsidiaries of Exterran Corp., began a roadshow on Monday in New York for a $300 million offering of eight-year senior notes (expected ratings B3/B+), according to a syndicate source.

An investor call was scheduled to get underway at 12:30 p.m. ET on Monday.

The roadshow continues on Tuesday in Boston and wraps up Wednesday in Los Angeles.

The Rule 144A and Regulation S with registration rights offering is expected to price on Thursday.

Wells Fargo Securities LLC is the left bookrunner. Credit Agricole CIB, BofA Merrill Lynch, Citigroup Global Markets Inc. and RBC Capital Markets LLC are the joint bookrunners.

Scotia Capital, SMBC Nikko and Goldman Sachs & Co. are the senior co-managers.

HSBC, Santander and BB&T are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

The Houston-based company plan to use the proceeds to repay term loan debt and pay down its revolving credit facility and for general corporate purposes.

Exterran provides compression, production and processing products to the oil and natural gas industry.

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