Exterran Partners (EXLP) Prices 4.5 Million Unit Offering at $24.05/Share

February 29, 2012 8:14 AM EST
Exterran Partners, L.P. (NASDAQ: EXLP) today announced that it priced a previously announced underwritten public offering of 4,500,000 common units representing limited partner interests in the Partnership at $24.05 per common unit. The offering is expected to close on or about March 5, 2012. The Partnership also granted the underwriters a 30-day option to purchase up to 675,000 additional common units to cover over-allotments, if any.

The Partnership intends to use all of the net proceeds, in the amount of $103.8 million, of this offering to repay borrowings outstanding under its revolving credit facility. Amounts repaid under its revolving credit facility, subject to the terms of the facility, may be reborrowed for general partnership purposes, including to fund a portion of the consideration for the previously announced acquisition of compression and processing assets from Exterran Holdings, Inc. pursuant to that certain Contribution, Conveyance and Assumption Agreement, dated as of February 22, 2012, if consummated.

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