HOUSTON--(BUSINESS WIRE)--Archrock, Inc. (NYSE: AROC) today announced that it has issued a notice
to redeem all of its outstanding 7.25% Senior Notes due 2018 (CUSIP No.
30225XAC7) (“2018 Notes”). In accordance with the terms of the indenture
under which the 2018 Notes were issued, the 2018 Notes will be redeemed
in full on Dec. 4, 2015 (the “Redemption Date”) at a redemption price
equal to 101.813%, plus accrued and unpaid interest, if any, to the
Redemption Date.
A notice of redemption is being delivered by Wells Fargo Bank, National
Association, as trustee, to all registered holders of the 2018 Notes.
Copies of the notice of redemption and additional information relating
to the procedure for redemption may be obtained from Wells Fargo Bank,
National Association by calling 800-344-5128.
Archrock intends to fund the redemption using proceeds transferred to
Archrock in connection with the spin-off (the “spin-off”) of its
international services and global fabrication businesses into a
separate, publicly traded company, Exterran Corporation (NYSE: EXTN). In
connection with the spin-off, Exterran Holdings, Inc. was renamed
Archrock, Inc.
This announcement is for informational purposes only and is not an offer
to purchase or sell, or a solicitation of an offer to purchase or sell,
any 2018 Notes.
About Archrock
Archrock, Inc. is the leading provider of natural gas contract
compression services to customers throughout the United States and a
leading supplier of aftermarket services to customers that own
compression equipment in the United States. Archrock is headquartered in
Houston, Texas and operates in the major oil and gas producing regions
in the United States with approximately 2,500 employees. Archrock owns
an equity interest, including all of the general partner interest, in
Archrock Partners, L.P. (NASDAQ: APLP). For more information, visit www.archrock.com.
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 Section 21E of the
Securities Exchange Act of 1934, as amended. 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 Archrock’s control, which could cause actual results to differ
materially from such statements. Forward-looking information includes,
but is not limited to: Archrock’s intended redemption of all of the
outstanding 2018 Notes and its ability to successfully effect the
redemption; the expected timing of the redemption; and the anticipated
source of funds for the redemption.
While Archrock 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: local, regional and national economic
conditions and the impact they may have on Archrock and its customers;
changes in tax laws or regulations that impact master limited
partnerships; conditions in the oil and gas industry, including a
sustained decrease in the level of supply or demand for oil or natural
gas or a sustained decrease in the price of oil or natural gas; any
non-performance by third parties of their contractual obligations;
changes in safety, health, environmental and other regulations; and the
performance of Archrock Partners.
These forward-looking statements are also affected by the risk factors,
forward-looking statements and challenges and uncertainties described in
Exterran Holdings, Inc.’s Annual Report on Form 10-K for the year ended
December 31, 2014, and those set forth from time to time in Exterran
Holdings’ and/or Archrock’s filings with the Securities and Exchange
Commission, which are available at www.archrock.com.
Except as required by law, Archrock 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.