HOUSTON, Nov 18, 2010 (BUSINESS WIRE) --
Exterran Holdings, Inc. (NYSE: EXH) today announced the pricing of
$350.0 million of senior notes due 2018. The notes will bear interest at
a rate of 7.25% per annum and are being sold in a private offering at a
price equal to 100% of their face principal amount. The closing of the
offering is expected to occur on November 23, 2010 and is subject to
customary closing conditions.
Exterran expects to receive net proceeds from the offering of
approximately $342.0 million after estimated offering expenses. Exterran
intends to use the net proceeds of the proposed offering to repay
amounts outstanding under its asset-backed securitization facility and
its senior secured credit facility and for other general corporate
purposes.
The notes are being offered inside the United States to qualified
institutional buyers in reliance on Rule 144A under the Securities Act
of 1933, as amended (the "Securities Act"), and outside the United
States to non-U.S. persons in reliance on Regulation S under the
Securities Act.
The notes and the guarantees thereof have not been registered under the
Securities Act or any state securities laws and may not be offered or
sold in the United States absent registration or an applicable exemption
from registration requirements under the Securities Act and any
applicable state securities laws.
This press release is neither an offer to sell nor the solicitation of
an offer to buy the notes or any other securities and shall not
constitute an offer, solicitation or sale in any jurisdiction in which,
or to any persons to whom, such an offer, solicitation or sale is
unlawful.
Forward-Looking Statements
All statements in this release (and oral statements made regarding the
subjects of this release) other than historical facts are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. You can identify many of these statements
by looking for words such as "believes," "expects," "intends,"
"projects," "anticipates," "estimates" or similar words or the negative
thereof. 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 the
Company, which could cause actual results to differ materially from such
statements. Forward-looking information includes, but is not limited to,
statements regarding the completion of the private offering of senior
notes and the use of net proceeds from the proposed offering.
While the Company believes that the assumptions concerning future events
are reasonable, it cautions that there are inherent difficulties in
predicting certain important factors that could impact the future
performance or results of its business. Among the factors that could
cause results to differ materially from those indicated by such
forward-looking statements are: market conditions; local, regional,
national and international economic conditions and the impact they may
have on the Company and its customers; changes in tax laws that impact
the Company or master limited partnerships; conditions in the oil and
gas industry, including a sustained decrease in the level of supply or
demand for oil and natural gas and the impact on the price of oil and
natural gas; the Company's ability to timely and cost-effectively obtain
components necessary to conduct its business; changes in political or
economic conditions in key operating markets, including international
markets; and changes in safety and environmental regulations pertaining
to the production, processing and transportation of oil and natural gas.
These forward-looking statements are also affected by the risk factors,
forward-looking statements and challenges and uncertainties described in
the preliminary offering memorandum, Exterran's Annual Report on Form
10-K for the year ended December 31, 2009 and those set forth from time
to time in the Company's filings with the Securities and Exchange
Commission, which are currently available at www.exterran.com. Except as
required by law, the Company expressly disclaims any intention or
obligation to revise or update any forward-looking statements whether as
a result of new information, future events or otherwise.
SOURCE: Exterran Holdings, Inc.
Exterran
Investors: David Oatman, (281) 836-7035
or
Media: Susan Nelson, (281) 836-7297