Kodiak Gas Services, Inc. announced the launch of a private offering of $1 billion in aggregate principal amount of senior unsecured notes.
The proceeds from the offering will be used to repay a portion of the outstanding indebtedness under the Issuer's revolving asset-based loan credit facility.
The notes are not registered under the Securities Act and are being offered only to qualified institutional buyers or non-U.S. persons.
Offering Details
$1 billion Offering: $500 million in 2033 Notes and $500 million in 2035 Notes.
Use of Proceeds
Repayment of outstanding indebtedness under the Issuer's revolving asset-based loan credit facility.
Regulatory Compliance
Notes not registered under the Securities Act, offered to qualified institutional buyers or non-U.S. persons.
- The Offering will strengthen Kodiak Gas Services' financial position by reducing outstanding indebtedness.
- Entry into an amendment to the ABL Facility will provide more favorable terms for the Company's credit arrangements.
Kodiak Gas Services' strategic move to raise $1 billion through the Offering demonstrates the Company's proactive approach to managing its capital structure and refinancing existing debt obligations.