Natural-gas company Exterran Partners said it plans to borrow about $58 million under a new asset-backed securitization facility and issue about $86 million of new equity to Exterran Holdings.
Exterran Partners agreed to acquire contracts serving 18 customers from oil and gas industry services company Exterran Holdings Inc. The deal, valued at about $144 million with transaction costs, includes the purchase of about 900 compressor units used to provide compression services under customer contracts, comprising about 273,000 horsepower.
The partnership said it has already received a financing commitment for a new $150 million asset-backed securitization facility, which is expected to help fund this and future acquisition transactions. This facility, which matures in 2013, will be arranged by Wells Fargo Securities LLC and provided by Wachovia Bank NA.