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Stock impact report

Kodiak Gas Services Announces Launch of $750 Million Senior Unsecured Notes Offering

Kodiak Gas Services, Inc. (KGS) 
Company Research Source: Business Wire
THE WOODLANDS, Texas--(BUSINESS WIRE)--Kodiak Gas Services, Inc. (NYSE: KGS) (“Kodiak” or the “Company”) today announced that its subsidiary, Kodiak Gas Services, LLC (the “Issuer”) has launched a private offering (the “Offering”) of $750 million in aggregate principal amount of senior unsecured notes due 2031 (the “Notes”).The Issuer intends to use the net proceeds from the offering (together with cash and amounts available under the Issuer’s revolving asset-based loan credit facility (the “ABL Facility”)) to redeem all the Issuer’s outstanding 7.25% Senior Notes due 2029 (the “2029 Notes”) at a redemption price equal to 103.625% of the $750,000,000 aggregate principal amount, plus accrued and unpaid interest, if any. The issuer expects to use amounts available under the ABL Facility to fund the acquisition of 100% of the issued and outstanding membership interests of Distributed Power Solutions, LLC. This press release does not constitute a notice of redemption of the 2029 Notes Show less Read more
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