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.