Kodiak Gas Services, Inc. (KGS) Tuesday announced that its subsidiary, Kodiak Gas Services, LLC has launched a private offering of $500 million in aggregate principal amount of senior unsecured notes due 2033 and $500 million in aggregate principal amount of senior unsecured notes due 2035.
The issuer intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under the issuer's revolving asset-based loan credit facility.
In connection with such repayment, the company intends to enter into an amendment to the ABL Facility that will, among other things, reduce total commitments to $2.0 billion and extend the maturity date.
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