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Archrock, Inc. (AROC)
Chart Events
Performance Outlook
| Previous Close | 9.62 |
| Open | 9.75 |
| Bid | 0.00 x 1000 |
| Ask | 10.05 x 1200 |
| Day's Range | 9.49 - 9.97 |
| 52 Week Range | 2.09 - 10.36 |
| Volume | 680,531 |
| Avg. Volume | 1,178,503 |
| Market Cap | 1.493B |
| Beta (5Y Monthly) | 2.71 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.19 |
| Earnings Date | Feb 17, 2021 - Feb 22, 2021 |
| Forward Dividend & Yield | 0.58 (6.03%) |
| Ex-Dividend Date | Nov 10, 2020 |
| 1y Target Est | 9.58 |
Fair Value
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- GlobeNewswire
Archrock Announces Closing of $300 Million of Senior Notes Offering
HOUSTON, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Archrock, Inc. (NYSE: AROC) (“Archrock”) today announced the closing of the previously announced private offering by Archrock Partners, L.P. (“Archrock Partners”), a wholly-owned subsidiary of Archrock, of $300 million aggregate principal amount of 6.250% senior notes due 2028 (the “New Notes”). Archrock Partners Finance Corp., a wholly-owned subsidiary of Archrock Partners (together with Archrock Partners, the “Issuers”), is the co-issuer of the New Notes. The New Notes were offered as additional notes under an indenture, dated December 20, 2019 (the “Indenture”), pursuant to which the Issuers previously issued $500 million aggregate principal amount of 6.250% senior notes due 2028 (the “Initial Notes”). The New Notes have identical terms as the Initial Notes, other than the issue date, and the New Notes and the Initial Notes will be treated as a single class of securities under the Indenture. Archrock Partners intends to use the net proceeds of the sale of the New Notes to partially repay outstanding borrowings under its revolving credit facility and for general partnership purposes. The New Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the rules promulgated thereunder and applicable state securities laws. The New Notes were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act.This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.About ArchrockArchrock is an energy infrastructure company with a pure-play focus on midstream natural gas compression. Archrock is the leading provider of natural gas compression services to customers in the oil and natural gas industry throughout the United States and a leading supplier of aftermarket services to customers that own compression equipment in the United States.About Archrock PartnersArchrock Partners is a leading provider of natural gas compression services to customers in the oil and natural gas industry throughout the United States. Archrock owns all of the limited and general partnership interests in Archrock Partners.Forward-Looking StatementsAll statements in this release (and oral statements made regarding the subjects of this release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside Archrock or Archrock Partners’ control. Forward-looking information includes, but is not limited to: statements regarding Archrock Partners’ intended use of net proceeds from the offering.While Archrock and Archrock Partners believe that the assumptions concerning future events are reasonable, they caution that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. Among the factors that could cause results to differ materially from those indicated by such forward-looking statements are: local, regional and national economic conditions and the impact they may have on Archrock Partners’ and its customers; conditions in the oil and gas industry, including the level of production of, demand for or price of oil or natural gas; changes in safety, health, environmental and other regulations; the financial condition of Archrock Partners’ customers; the failure of any customer to perform its contractual obligations; and the performance of Archrock.These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties described in Archrock’s Annual Report on Form 10-K for the year ended December 31, 2019, and those reports set forth from time to time in Archrock’s filings with the Securities and Exchange Commission, which are available at www.archrock.com. Except as required by law, Archrock and Archrock Partners expressly disclaim any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.SOURCE: Archrock, Inc. For information, contact:Megan Repine Vice President, Investor Relations (281) 836-8360 investor.relations@archrock.com
- Moody's
Archrock Partners, L.P. -- Moody's assigns B2 rating to Archrock Partners' proposed senior notes
Moody's Investors Service, (Moody's) assigned a B2 rating to Archrock Partners, L.P.'s (Archrock) proposed $250 million senior unsecured notes issue due 2028. The notes are being co-issued by Archrock Partners Finance Corp., a wholly-owned subsidiary of Archrock. Proceeds from the offering will be used to repay borrowings under the company's revolving credit facility and general corporate purposes.
