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Exterran Initiates $200MM Debt Offering Ahead of Spinoff

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   |    Monday,July 13,2015

Exterran Holdings, Inc. reported that, in preparation for the previously announced separation of its international services and global fabrication businesses into a standalone, publicly traded company named Exterran Corporation, Exterran Energy Solutions, L.P., a wholly owned subsidiary of Exterran Holdings, and EES Finance Corp., a wholly owned subsidiary of EESLP, intend to offer, subject to market conditions, $400 million aggregate principal amount of senior unsecured notes due 2022. The Issuers will be subsidiaries of SpinCo after the completion of the separation.

The Issuers intend to transfer to Exterran Holdings the net proceeds from the sale of the notes, together with borrowings under EESLP’s new credit agreement (which has been executed and, subject to certain conditions, will become available upon the completion of the separation), to allow Exterran Holdings to repay certain of its existing indebtedness. The consummation of the notes offering will not be conditioned on Exterran Holdings’ completion of the separation; however, the Issuers will be required to redeem the notes if the separation does not occur within three months of the consummation of the notes offering.



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