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Archrock Partners closes $500M senior note offering

Natural gas compression services company Archrock Inc.'s master limited partnership Archrock Partners LP closed a private offering of $500 million of 6.875% senior notes due 2027.

Net proceeds from the offering will be used by the partnership to redeem its 6.000% senior notes due 2021 and partly pay off outstanding borrowings under its revolving credit facility, according to a March 21 news release.

Archrock Partners subsidiary Archrock Partners Finance Corp. serves as the co-issuer of the notes.