Archrock Inc.

08/28/2024 | Press release | Distributed by Public on 08/28/2024 15:06

Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.

On August 28, 2024, Archrock, Inc. ("we" or "us"), Archrock Partners Operating LLC, Archrock Services, L.P. ("ASLP" and, together with Archrock Partners Operating LLC, the "Borrowers" and each, a "Borrower") and certain of our subsidiaries entered into a First Amendment to Amended and Restated Credit Agreement (the "First Amendment") with JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the "Administrative Agent"), and certain financial institutions as lenders. The First Amendment amends the Amended and Restated Credit Agreement, dated as of May 16, 2023 (the "Existing Credit Agreement"), among us, the Borrowers, certain of our subsidiaries, the Administrative Agent and certain financial institutions as lenders.

The First Amendment amends the Existing Credit Agreement to, among other things: (i) increase the aggregate commitment amounts under our senior secured asset-based revolving credit facility (the "Credit Facility") from $750 million to $1.1 billion, (ii) increase the aggregate amount of swingline loans available at any time under the Credit Facility from $75 million to $110 million, (iii) add certain financial institutions as lenders under the Credit Facility, (iv) join a newly formed wholly-owned subsidiary of ASLP as a guarantor and a grantor under the Credit Facility and (v) modify certain other covenants to which we, the Borrowers and certain of our other subsidiaries are subject.

The foregoing summary of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the First Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.