Exterran Partners to offer common units

Exterran Partners LP

Exterran Partners LP (NASDAQ: EXLP) has begun an underwritten public offering of 5,400,000 common units representing limited partner interests pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. Exterran Partners has also granted the underwriters a 30-day option to purchase up to an aggregate of 810,000 additional common units to cover over-allotments, if any.

Exterran Partners intends to use all of the net proceeds of this offering to fund a portion of the purchase price of its pending acquisition of natural gas compression assets from MidCon Compression LLC, pursuant to that certain purchase and sale agreement, dated as of Feb. 27, between its subsidiary and MidCon. Pending such use, Exterran Partners intends to use the net proceeds to pay down borrowings outstanding under its revolving credit facility, which amounts may be re-borrowed in accordance with the terms of the facility. If the acquisition does not close, Exterran Partners intends to use the net proceeds for general partnership purposes.

Wells Fargo Securities, BofA Merrill Lynch, JP Morgan, RBC Capital Markets, and Goldman, Sachs & Co. are acting as joint book-running managers.

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