Exterran Partners, L.P. (EXLP) announced that it has increased the size of its previously announced private offering of senior notes due 2021 to $350 million from $300 million. The offering is expected to close on March 27, 2013.
The company said that the new senior notes carry a coupon interest rate of 6% and are being sold at 98.439% of par, which equates to an effective yield to maturity of 6.25%.
Exterran Partners said it intends to use all of the net proceeds of this offering to repay borrowings outstanding under its revolving credit facility.
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