Archrock, Inc. 8-K

What Happened

• Archrock, Inc. and two of its subsidiaries (Archrock Services, L.P. and Archrock Partners Finance Corp.) announced an upsized private offering of $800,000,000 aggregate principal amount of 6.000% Senior Notes due 2034, with Archrock, Inc. and certain subsidiaries providing guarantees. J.P. Morgan Securities LLC is the representative of the initial purchasers. The Offering was priced at par and is expected to close on or about January 21, 2026, subject to customary closing conditions. The Notes and Guarantees are being issued in a private placement under Section 4(a)(2) of the Securities Act and will be resold to qualified institutional buyers (Rule 144A) and to certain non‑U.S. investors (Regulation S).
• The Company disclosed the upsizing and pricing in a press release dated January 6, 2026 (Exhibit 99.1 to the 8-K).

Key Details

• Offering size: $800,000,000 aggregate principal amount of 6.000% Senior Notes due 2034.
• Net proceeds: approximately $789 million expected to be used to repay a portion of outstanding borrowings under Archrock’s revolving credit facility.
• Pricing and mechanics: Notes priced at par; private placement to initial purchasers who will resell under Rule 144A (U.S. QIBs) and Regulation S (non‑U.S.).
• Other terms: Purchase Agreement includes customary reps, covenants and indemnities; Issuers/Guarantors agreed not to offer or sell other debt securities for 90 days without the initial purchasers’ consent. Some initial purchasers or their affiliates are lenders under the Company’s revolver and may receive a portion of the proceeds.

Why It Matters

• This transaction raises $800M of long‑term fixed‑rate debt at a 6.00% coupon and is intended to refinance short‑term revolver borrowings, changing the company’s debt mix by replacing revolver balances with a long‑dated senior note due 2034.
• Investors should note the added long‑term interest obligation (6.00%) and the potential effect on Archrock’s liquidity and leverage metrics as the company implements the stated repayment of revolver borrowings. The 90‑day restriction on issuing additional debt may also limit near‑term debt financings.