Brief: USA Compression Partners To Buy Compression Business From Energy Transfer Partners

USA Compression Partners LP (Texas)

16/01/2018 11:55

Jan 16 (Reuters) - Usa Compression Partners Lp  USAC.N : 
    * USA COMPRESSION PARTNERS TO ACQUIRE COMPRESSION BUSINESS 
FROM 
ENERGY TRANSFER PARTNERS 
    * USA COMPRESSION PARTNERS LP - DEAL FOR APPROXIMATELY $1.8 
BILLION 
    * USA COMPRESSION PARTNERS LP - TRANSACTION IS EXPECTED TO 
BE 
ACCRETIVE TO USAC'S DISTRIBUTABLE CASH FLOW IN 2018 
    * USA COMPRESSION PARTNERS LP - AS PART OF TRANSACTION, ETE 
WILL 
ACQUIRE OWNERSHIP INTERESTS IN GENERAL PARTNER OF USAC 
    * USA COMPRESSION PARTNERS LP - AS PART OF TRANSACTION, ETE 
WILL 
ALSO ACQUIRE APPROXIMATELY 12.5 MILLION USAC COMMON UNITS FROM 
USA COMPRESSION HOLDINGS 
    * USA COMPRESSION PARTNERS - BENEFIT OF SYNERGIES TO CDM FOR 
2018 
EXPECTED TO BE AT LEAST $20 MILLION ON A RUN-RATE BASIS FROM 
DEAL 
    * USA COMPRESSION - ETP TO CONTRIBUTE CDM BUSINESS TO USAC 
FOR 
$1.225 BILLION IN CASH, ABOUT 19.2 MILLION USAC COMMON UNITS, 
ABOUT 6.4 MILLION USAC CLASS B UNITS 
    * USA COMPRESSION PARTNERS LP - FOLLOWING CLOSING, CO WILL 
CONTINUE TO OWN APPROXIMATELY 12.5 MILLION USAC COMMON UNITS 
    * USA COMPRESSION- USAC OBTAINED COMMITTED FINANCING FOR 
CASH 
CONSIDERATION THROUGH A $500 MILLION PERPETUAL PREFERRED UNITS 
OFFERING 
    * USA COMPRESSION PARTNERS LP - $500 MILLION PERPETUAL 
PREFERRED 
UNITS OFFERING TO INVESTMENT FUNDS MANAGED OR SUB-ADVISED BY EIG 
GLOBAL ENERGY PARTNERS 
    * USA COMPRESSION PARTNERS LP - OBTAINED $725 MILLION IN 
COMMITTED 
DEBT FINANCING FROM JPMORGAN AND BARCLAYS 
 
Source text for Eikon:  ID:nBw33RSZ7a  
Further company coverage:  USAC.N  
 
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