An announcement from Archrock (AROC) is now available.
Archrock Partners and its subsidiaries, with Archrock, Inc. as the parent guarantor, have entered into a purchase agreement for a private offering of $700 million in Senior Notes, expected to close by August 26, 2024. The offering, exempt from registration under the Securities Act, is primarily aimed at qualified institutional buyers in the US and eligible purchasers abroad. Proceeds are earmarked for an acquisition, a tender offer for existing notes, and general corporate purposes, including debt repayment. The deal includes a 90-day lock-up period where the company agrees not to issue more debt without consent from Wells Fargo Securities, LLC.
See more data about AROC stock on TipRanks’ Stock Analysis page.
