Archrock Partners closed on a new five-year $1.1 billion asset-based revolving credit facility. The new credit facility will mature on March 30, 2022. If, as of December 2, 2020, any portion of the existing senior notes due April 2021 are outstanding, then the new credit facility will instead mature on December 2, 2020.

Proceeds from the new credit facility were used to repay in full borrowings under the partnership’s existing $825 million revolving credit facility and $150 million term loan which would have matured in May 2018. All commitments under the old credit facility have been terminated.

“We are pleased to announce the closing of our new credit facility and appreciate the support of existing and new lenders,” said Brad Childers, chairman, president and CEO. “The new credit facility demonstrates support for Archrock Partners’ stable, fee-based, production related business and provides additional liquidity as we continue to pursue industry growth opportunities.”

The syndicate of 18 banks is led by JPMorgan Chase as joint lead arranger, joint book runner and administrative agent. Wells Fargo Securities, Bank of America, Regions Bank, Royal Bank of Canada, TD Bank and The Bank of Nova Scotia are joint lead arrangers and joint book runners.

Houston-based Archrock Partners is a provider of natural gas contract compression services to customers throughout the U.S.