Archrock to sell $500 million eight-year notes in Thursday drive-by

By Paul A. Harris

Portland, Ore., March 7 – Archrock, Inc. plans to price a $500 million offering of eight-year senior notes (B3/B-) in a quick-to-market Thursday trade, according to market sources.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S offering.

The notes come with three years of call protection.

The issuing entity will be Archrock Partners, LP, a wholly owned subsidiary of Archrock, which intends to use the proceeds to redeem its 6% senior notes due 2021 and pay down its revolving credit facility.

Archrock Partners Finance Corp., a wholly owned subsidiary of Archrock Partners, will be the co-issuer.

Archrock is a Houston-based energy infrastructure company with a pure-play focus on midstream natural gas compression.

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