USA Compression enters into up to $725 million bridge commitment

By Tali Rackner

Minneapolis, Jan. 16 – USA Compression Partners, LP entered into an up to $725 million bridge commitment from JPMorgan Chase Bank, NA and Barclays Bank plc, according to an 8-K filing with the Securities and Exchange Commission.

The bridge commitment will expire upon the earliest of: (a) The outside date; (b) the consummation of the acquisition of CDM Resource Management LLC from Energy Transfer Partners, LP without use of the bridge loan; and (c) Sept. 30, 2018.

The bridge loan is available to backstop a portion of the acquisition purchase price that the partnership expects to fund with the net proceeds of other debt financing.

USA Compression is an Austin, Texas-based provider of natural gas compression services.

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