Kodiak Gas talks $750 million five-year notes to yield in 7˝% area; books close Tuesday

By Paul A. Harris

Portland, Ore., Jan. 30 – Kodiak Gas Services, LLC plans to price a $750 million offering of five-year senior notes (B2/B+/BB) to yield in the 7˝% area, according to a syndicate source.

Books close at 1 p.m. ET on Tuesday, and the deal is set to price Tuesday afternoon.

The Rule 144A and Regulation S for life notes come with two years of call protection.

Barclays, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Securities Inc. and Truist Securities Inc. are the joint bookrunners.

Robert W. Baird & Co. Inc., Raymond James & Associates, RBC Capital Markets LLC, Stifel TPH, Comerica Securities Inc., Fifth Third Securities Inc., First Horizon, PNC Capital Markets LLC and Regions Securities LLC are the co-managers.

The Montgomery, Tex.-based supplier of natural gas compression services plans to use the proceeds to refinance debt, as well as debt of CSI Compressco LP following Kodiak’s acquisition of CSI.

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