AUSTIN, Texas--(BUSINESS WIRE)--Dec. 13, 2013--
USA Compression Partners, LP (NYSE: USAC) (the “Partnership”) today
announced the closing of the Fifth Amended and Restated Credit
Agreement. The amendment provides for an increase in the facility
capacity from $600 million to $850 million and an extension of the
maturity to 2018. In addition, the revolving credit facility contains an
accordion feature whereby it can be expanded to $950 million under
certain conditions. The amendment to the Partnership’s revolving credit
facility reduces the applicable interest rate margins on borrowings and
provides additional flexibility under the financial covenants.
As of September 30, 2013, the Partnership had approximately $390 million
of variable-rate outstanding indebtedness under its revolving credit
facility.
“We appreciate the continued support and confidence of our lender group,
which includes multiple institutions with long-term relationships with
USA Compression,” said Eric D. Long, President and Chief Executive
Officer of the Partnership. “We view the strong initial commitments from
several new institutions in our lender group as a strong vote of
confidence in our Partnership. This financial commitment to our
Partnership from the lender community provides us with additional
financial flexibility as we continue to execute our growth strategy and
deliver long-term value to our unitholders.”
ABOUT USA COMPRESSION PARTNERS, LP
USA Compression Partners, LP is a growth-oriented Delaware limited
partnership that is one of the nation’s largest independent providers of
compression services in terms of total compression unit horsepower. The
company partners with a broad customer base composed of producers,
processors, gatherers and transporters of natural gas. USA Compression
focuses on providing compression services to infrastructure applications
primarily in high volume gathering systems, processing facilities and
transportation applications. More information is available at www.usacpartners.com.
FORWARD-LOOKING STATEMENTS
Statements in this press release may be forward-looking statements as
defined under federal law. These forward-looking statements rely on a
number of assumptions concerning future events and are subject to a
number of uncertainties and factors, many of which are outside the
control of USAC, and a variety of risks that could cause results to
differ materially from those expected by management of USAC. USAC
undertakes no obligation to update or revise forward-looking statements
to reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results over time.
Source: USA Compression Partners, LP
USA Compression Partners, LP
Joseph (“Jody”) C. Tusa, 512-369-1381
jtusa@usacompression.com
or
Matthew
C. Liuzzi, 512-369-1624
mliuzzi@usacompression.com
