HOUSTON, Oct. 23 /PRNewswire-FirstCall/ -- Universal Compression Holdings,
Inc. (NYSE: UCO) announced today that it has entered into a five-year $500
million senior secured credit agreement. The lead banks in the syndicate for
the facility are Wachovia Capital Markets, LLC and Deutsche Bank Securities
Inc.
Universal used approximately $330 million under the new senior secured
credit facility, together with debt assumed by Universal Compression Partners,
L.P. (Nasdaq: UCLP) and proceeds from the sale of UCLP equity interests
pursuant to the exercise of the over-allotment option in the UCLP initial
public offering, to repay all balances under the prior senior secured credit
facility. The new facility will be used for working capital, acquisitions and
general corporate purposes.
Universal, headquartered in Houston, Texas, is a leading natural gas
compression services company, providing a full range of contract compression,
sales, operations, maintenance and fabrication services to the domestic and
international natural gas industry.
SOURCE Universal Compression Holdings, Inc.
10/23/2006
CONTACT: David Oatman, Vice President, Investor Relations of Universal
Compression Holdings, Inc., +1-713-335-7460
5998 10/23/2006 07:00 EDT http://www.prnewswire.com