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[8-K] USA COMPRESSION PARTNERS LP Reports Material Event

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Rhea-AI Filing Summary

USA Compression Partners LP discloses terms of an amended credit agreement that defines borrowing base and pricing. Eligible receivables and certain inventory and compression units are included in the borrowing base at specified advance rates: 80% of eligible finished goods and heavy component inventory valued at cost and 80% of eligible compression units not yet subject to a valuation report; other eligible collateral is included on a first-in-first-out basis, less reserves the Administrative Agent may set. Interest options include Daily Simple SOFR, SOFR plus a margin, one-month SOFR for swingline loans, and an Alternate Base Rate (the greatest of prime, federal funds +0.50%, or one-month SOFR +1.00%). Applicable margins range from 1.75% to 2.50% for SOFR-based loans and 0.75% to 1.50% for Alternate Base Rate and one-month SOFR loans, set by a total leverage ratio pricing grid. A 0.25% commitment fee applies to the daily unused amount. Borrowings repaid may be reborrowed subject to borrowing base availability.

USA Compression Partners LP rende noti i termini di un accordo di credito emendato che definisce la borrowing base e il pricing. I crediti idonei e talune scorte e unit脿 di compressione sono inclusi nella borrowing base con tassi di anticipo specificati: 80% delle scorte di prodotti finiti idonei e dei componenti pesanti valutati al costo e 80% delle unit脿 di compressione idonee non ancora coperte da un rapporto di valutazione; gli altri collaterali idonei sono inclusi con criterio first-in-first-out, al netto delle riserve che l'Agente Amministrativo potr脿 applicare. Le opzioni di interesse comprendono Daily Simple SOFR, SOFR pi霉 uno spread, SOFR a un mese per i prestiti swingline e un Alternate Base Rate (il maggiore tra prime, federal funds +0,50% o SOFR a un mese +1,00%). Gli spread applicabili vanno da 1,75% a 2,50% per i prestiti basati su SOFR e da 0,75% a 1,50% per l'Alternate Base Rate e i prestiti a SOFR a un mese, determinati da una griglia di pricing basata sul rapporto di leva totale. 脠 prevista una commissione di impegno dello 0,25% sull'importo giornalmente non utilizzato. Gli importi rimborsati possono essere riutilizzati nei limiti della borrowing base disponibile.

USA Compression Partners LP revela los t茅rminos de un acuerdo de cr茅dito enmendado que define la borrowing base y la estructura de precios. Cuentas por cobrar elegibles y ciertos inventarios y unidades de compresi贸n se incluyen en la borrowing base con tasas de anticipo especificadas: 80% de inventario de productos terminados elegibles y componentes pesados valorados al costo y 80% de unidades de compresi贸n elegibles que a煤n no cuentan con un informe de tasaci贸n; otros colaterales elegibles se incluyen en base first-in-first-out, menos las reservas que el Agente Administrativo pueda imponer. Las opciones de inter茅s incluyen Daily Simple SOFR, SOFR m谩s margen, SOFR a un mes para pr茅stamos swingline y una Alternate Base Rate (la mayor entre prime, federal funds +0.50%, o SOFR a un mes +1.00%). Los m谩rgenes aplicables van de 1.75% a 2.50% para pr茅stamos basados en SOFR y de 0.75% a 1.50% para Alternate Base Rate y pr茅stamos a SOFR a un mes, fijados por una cuadr铆cula de precios seg煤n la ratio de apalancamiento total. Se aplica una comisi贸n de compromiso del 0.25% sobre el monto no utilizado diariamente. Los pr茅stamos reembolsados pueden volver a solicitarse sujetos a la disponibilidad de la borrowing base.

USA Compression Partners LP電� 彀瀰 頃滊弰(borrowing base)鞕� 臧�瓴� 臁瓣贝鞚� 攴滌爼頃� 靾橃爼霅� 雽�於滉硠鞎� 臁瓣贝鞚� 瓿店皽頃╇媹雼�. 鞝侁博 毂勱秾瓿� 韸轨爼 鞛碃 氚� 鞎曥稌 鞛ル箘臧� 歆�鞝曤悳 靹犾旮� 牍勳湪搿� 彀瀰 頃滊弰鞐� 韽暔霅╇媹雼�: 鞗愱皜搿� 韽夑皜霅� 鞝侁博 鞕勳牅頀� 氚� 欷戨焿 攵�頀� 鞛碃鞚� 80%鞕� 臧愳爼氤搓碃靹滉皜 鞎勳 鞐嗠姅 鞝侁博 鞎曥稌 鞛ル箘鞚� 80%; 旮绊儉 鞝侁博 雼措炒電� 靹犾瀰靹犾稖(蹿颈谤蝉迟-颈苍-蹿颈谤蝉迟-辞耻迟) 氚╈嫕鞙茧 韽暔霅橂┌, 頄夓爼雽�毽澑(Administrative Agent)鞚� 靹れ爼頃� 靾� 鞛堧姅 欷�牍勱笀鞚� 彀皭頃╇媹雼�. 鞚挫瀽 鞓奠厴鞙茧電� Daily Simple SOFR, SOFR + 毵堨, 鞀れ湙霛检澑雽�於滌棎 雽�頃� 1臧滌洈 SOFR, 氚� 雽�觳� 旮办旮堧Μ(Alternate Base Rate: prime, 鞐半癌旮瓣笀旮堧Μ +0.50%, 霕愲姅 1臧滌洈 SOFR +1.00% 欷� 斓滊寑臧�)臧� 鞛堨姷雼堧嫟. 鞝侅毄 毵堨鞚� SOFR 旮半皹 雽�於滌棎 雽�頃� 1.75%~2.50%, Alternate Base Rate 氚� 1臧滌洈 SOFR 雽�於滌棎 雽�頃� 0.75%~1.50%搿�, 齑� 霠堧矂毽 牍勳湪鞐� 霐半ジ 臧�瓴╉憸鞐� 鞚橅暣 瓴办爼霅╇媹雼�. 鞚检澕 氙胳偓鞖� 鞛旍暋鞐愲姅 0.25% 鞎届爼靾橃垬耄�臧� 鞝侅毄霅╇媹雼�. 靸來櫂霅� 彀瀰旮堨潃 彀瀰 頃滊弰 氩旍渼 雮挫棎靹� 鞛皑 彀瀰頃� 靾� 鞛堨姷雼堧嫟.

USA Compression Partners LP divulgue les termes d'un contrat de cr茅dit modifi茅 qui d茅finit la borrowing base et la tarification. Les cr茅ances 茅ligibles ainsi que certains stocks et unit茅s de compression sont inclus dans la borrowing base 脿 des taux d'avance sp茅cifi茅s : 80% des stocks admissibles de produits finis et des composants lourds valoris茅s au co没t et 80% des unit茅s de compression 茅ligibles ne faisant pas encore l'objet d'un rapport d'茅valuation ; les autres garanties 茅ligibles sont prises en compte selon le principe first-in-first-out, moins les r茅serves que l'Agent administratif pourra imposer. Les options de taux d'int茅r锚t incluent le Daily Simple SOFR, le SOFR major茅 d'une marge, le SOFR 脿 un mois pour les pr锚ts swingline, et un Alternate Base Rate (le plus 茅lev茅 entre le prime, les federal funds +0,50% ou le SOFR 脿 un mois +1,00%). Les marges applicables vont de 1,75% 脿 2,50% pour les pr锚ts bas茅s sur le SOFR et de 0,75% 脿 1,50% pour l'Alternate Base Rate et les pr锚ts au SOFR 脿 un mois, d茅termin茅es par une grille de tarification li茅e au ratio d'effet de levier total. Une commission d'engagement de 0,25% s'applique au montant non utilis茅 quotidiennement. Les emprunts rembours茅s peuvent 锚tre r茅emprunt茅s sous r茅serve de la disponibilit茅 de la borrowing base.

USA Compression Partners LP legt die Bedingungen einer ge盲nderten Kreditvereinbarung offen, die die Borrowing Base und die Preisgestaltung definiert. Anspruchsberechtigte Forderungen sowie bestimmte Best盲nde und Kompressionseinheiten sind mit festgelegten Vorfinanzierungss盲tzen in die Borrowing Base einbezogen: 80% der berechtigten Fertigwaren und schweren Komponentenbest盲nde zum Buchwert und 80% berechtigter Kompressionseinheiten, f眉r die noch kein Bewertungsbericht vorliegt; sonstige berechtigte Sicherheiten werden nach dem First-in-First-out-Prinzip bewertet, abz眉glich von dem Administrativen Agenten festzusetzender R眉ckstellungen. Zinsoptionen umfassen Daily Simple SOFR, SOFR zuz眉glich Marge, Einmonats-SOFR f眉r Swingline-Darlehen sowie einen Alternate Base Rate (der jeweils h枚chste Wert aus Prime, Federal Funds +0,50% oder Einmonats-SOFR +1,00%). Die anwendbaren Margen reichen von 1,75% bis 2,50% f眉r SOFR-basierte Kredite und von 0,75% bis 1,50% f眉r Alternate Base Rate und Einmonats-SOFR-Kredite und werden durch eine Preisgitter anhand der Gesamtkapitalisierungsquote festgelegt. Auf den t盲glich nicht genutzten Betrag f盲llt eine Commitment-Geb眉hr von 0,25% an. Zur眉ckgezahlte Darlehen k枚nnen innerhalb der Verf眉gbarkeit der Borrowing Base wieder aufgenommen werden.

Positive
  • Defined advance rates (80% on eligible finished goods and compression units) expand clarity on borrowing base calculations
  • Re-borrowing permitted after repayment subject to borrowing base availability, supporting working capital flexibility
  • Multiple rate options (Daily Simple SOFR, SOFR, one-month SOFR, Alternate Base Rate) provide interest-rate structure flexibility
Negative
  • Administrative Agent discretion to establish reserves can reduce available borrowing capacity without specified limits
  • Wide margin range (up to 2.50% for SOFR loans) means borrowing costs could increase materially if leverage deteriorates
  • Swingline limited to one-month SOFR, which may concentrate short-term cost risk for that tranche

Insights

TL;DR: The amendment clarifies borrowing base composition, preserves re-borrowing, and sets margin ranges tied to leverage.

The filing details collateral advance mechanics and explicit pricing bands tied to leverage, which helps quantify borrowing cost sensitivity to leverage changes. The inclusion of 80% advances on finished goods and certain compression units increases usable borrowing base for eligible inventory, while the Administrative Agent's discretionary reserves introduce variability in available capacity. The 0.25% commitment fee and re-borrowing feature maintain flexible liquidity management but actual borrowing capacity will depend on collateral valuations and any agent reserves.

TL;DR: Credit facility terms are standard but include agent discretion on reserves and a leverage-based margin grid affecting cost of borrowing.

The document specifies typical asset-based lending features: FIFO valuation, defined advance rates (notably 80% on certain inventory and units), and multiple rate alternatives (Daily Simple SOFR, SOFR, one-month SOFR for swingline, and an Alternate Base Rate). The discretionary reserve right is a key risk lever for the Administrative Agent that can reduce usable collateral. Margin spreads up to 2.50% on SOFR loans indicate potential for meaningful interest-rate expense if leverage metrics weaken.

USA Compression Partners LP rende noti i termini di un accordo di credito emendato che definisce la borrowing base e il pricing. I crediti idonei e talune scorte e unit脿 di compressione sono inclusi nella borrowing base con tassi di anticipo specificati: 80% delle scorte di prodotti finiti idonei e dei componenti pesanti valutati al costo e 80% delle unit脿 di compressione idonee non ancora coperte da un rapporto di valutazione; gli altri collaterali idonei sono inclusi con criterio first-in-first-out, al netto delle riserve che l'Agente Amministrativo potr脿 applicare. Le opzioni di interesse comprendono Daily Simple SOFR, SOFR pi霉 uno spread, SOFR a un mese per i prestiti swingline e un Alternate Base Rate (il maggiore tra prime, federal funds +0,50% o SOFR a un mese +1,00%). Gli spread applicabili vanno da 1,75% a 2,50% per i prestiti basati su SOFR e da 0,75% a 1,50% per l'Alternate Base Rate e i prestiti a SOFR a un mese, determinati da una griglia di pricing basata sul rapporto di leva totale. 脠 prevista una commissione di impegno dello 0,25% sull'importo giornalmente non utilizzato. Gli importi rimborsati possono essere riutilizzati nei limiti della borrowing base disponibile.

USA Compression Partners LP revela los t茅rminos de un acuerdo de cr茅dito enmendado que define la borrowing base y la estructura de precios. Cuentas por cobrar elegibles y ciertos inventarios y unidades de compresi贸n se incluyen en la borrowing base con tasas de anticipo especificadas: 80% de inventario de productos terminados elegibles y componentes pesados valorados al costo y 80% de unidades de compresi贸n elegibles que a煤n no cuentan con un informe de tasaci贸n; otros colaterales elegibles se incluyen en base first-in-first-out, menos las reservas que el Agente Administrativo pueda imponer. Las opciones de inter茅s incluyen Daily Simple SOFR, SOFR m谩s margen, SOFR a un mes para pr茅stamos swingline y una Alternate Base Rate (la mayor entre prime, federal funds +0.50%, o SOFR a un mes +1.00%). Los m谩rgenes aplicables van de 1.75% a 2.50% para pr茅stamos basados en SOFR y de 0.75% a 1.50% para Alternate Base Rate y pr茅stamos a SOFR a un mes, fijados por una cuadr铆cula de precios seg煤n la ratio de apalancamiento total. Se aplica una comisi贸n de compromiso del 0.25% sobre el monto no utilizado diariamente. Los pr茅stamos reembolsados pueden volver a solicitarse sujetos a la disponibilidad de la borrowing base.

USA Compression Partners LP電� 彀瀰 頃滊弰(borrowing base)鞕� 臧�瓴� 臁瓣贝鞚� 攴滌爼頃� 靾橃爼霅� 雽�於滉硠鞎� 臁瓣贝鞚� 瓿店皽頃╇媹雼�. 鞝侁博 毂勱秾瓿� 韸轨爼 鞛碃 氚� 鞎曥稌 鞛ル箘臧� 歆�鞝曤悳 靹犾旮� 牍勳湪搿� 彀瀰 頃滊弰鞐� 韽暔霅╇媹雼�: 鞗愱皜搿� 韽夑皜霅� 鞝侁博 鞕勳牅頀� 氚� 欷戨焿 攵�頀� 鞛碃鞚� 80%鞕� 臧愳爼氤搓碃靹滉皜 鞎勳 鞐嗠姅 鞝侁博 鞎曥稌 鞛ル箘鞚� 80%; 旮绊儉 鞝侁博 雼措炒電� 靹犾瀰靹犾稖(蹿颈谤蝉迟-颈苍-蹿颈谤蝉迟-辞耻迟) 氚╈嫕鞙茧 韽暔霅橂┌, 頄夓爼雽�毽澑(Administrative Agent)鞚� 靹れ爼頃� 靾� 鞛堧姅 欷�牍勱笀鞚� 彀皭頃╇媹雼�. 鞚挫瀽 鞓奠厴鞙茧電� Daily Simple SOFR, SOFR + 毵堨, 鞀れ湙霛检澑雽�於滌棎 雽�頃� 1臧滌洈 SOFR, 氚� 雽�觳� 旮办旮堧Μ(Alternate Base Rate: prime, 鞐半癌旮瓣笀旮堧Μ +0.50%, 霕愲姅 1臧滌洈 SOFR +1.00% 欷� 斓滊寑臧�)臧� 鞛堨姷雼堧嫟. 鞝侅毄 毵堨鞚� SOFR 旮半皹 雽�於滌棎 雽�頃� 1.75%~2.50%, Alternate Base Rate 氚� 1臧滌洈 SOFR 雽�於滌棎 雽�頃� 0.75%~1.50%搿�, 齑� 霠堧矂毽 牍勳湪鞐� 霐半ジ 臧�瓴╉憸鞐� 鞚橅暣 瓴办爼霅╇媹雼�. 鞚检澕 氙胳偓鞖� 鞛旍暋鞐愲姅 0.25% 鞎届爼靾橃垬耄�臧� 鞝侅毄霅╇媹雼�. 靸來櫂霅� 彀瀰旮堨潃 彀瀰 頃滊弰 氩旍渼 雮挫棎靹� 鞛皑 彀瀰頃� 靾� 鞛堨姷雼堧嫟.

USA Compression Partners LP divulgue les termes d'un contrat de cr茅dit modifi茅 qui d茅finit la borrowing base et la tarification. Les cr茅ances 茅ligibles ainsi que certains stocks et unit茅s de compression sont inclus dans la borrowing base 脿 des taux d'avance sp茅cifi茅s : 80% des stocks admissibles de produits finis et des composants lourds valoris茅s au co没t et 80% des unit茅s de compression 茅ligibles ne faisant pas encore l'objet d'un rapport d'茅valuation ; les autres garanties 茅ligibles sont prises en compte selon le principe first-in-first-out, moins les r茅serves que l'Agent administratif pourra imposer. Les options de taux d'int茅r锚t incluent le Daily Simple SOFR, le SOFR major茅 d'une marge, le SOFR 脿 un mois pour les pr锚ts swingline, et un Alternate Base Rate (le plus 茅lev茅 entre le prime, les federal funds +0,50% ou le SOFR 脿 un mois +1,00%). Les marges applicables vont de 1,75% 脿 2,50% pour les pr锚ts bas茅s sur le SOFR et de 0,75% 脿 1,50% pour l'Alternate Base Rate et les pr锚ts au SOFR 脿 un mois, d茅termin茅es par une grille de tarification li茅e au ratio d'effet de levier total. Une commission d'engagement de 0,25% s'applique au montant non utilis茅 quotidiennement. Les emprunts rembours茅s peuvent 锚tre r茅emprunt茅s sous r茅serve de la disponibilit茅 de la borrowing base.

USA Compression Partners LP legt die Bedingungen einer ge盲nderten Kreditvereinbarung offen, die die Borrowing Base und die Preisgestaltung definiert. Anspruchsberechtigte Forderungen sowie bestimmte Best盲nde und Kompressionseinheiten sind mit festgelegten Vorfinanzierungss盲tzen in die Borrowing Base einbezogen: 80% der berechtigten Fertigwaren und schweren Komponentenbest盲nde zum Buchwert und 80% berechtigter Kompressionseinheiten, f眉r die noch kein Bewertungsbericht vorliegt; sonstige berechtigte Sicherheiten werden nach dem First-in-First-out-Prinzip bewertet, abz眉glich von dem Administrativen Agenten festzusetzender R眉ckstellungen. Zinsoptionen umfassen Daily Simple SOFR, SOFR zuz眉glich Marge, Einmonats-SOFR f眉r Swingline-Darlehen sowie einen Alternate Base Rate (der jeweils h枚chste Wert aus Prime, Federal Funds +0,50% oder Einmonats-SOFR +1,00%). Die anwendbaren Margen reichen von 1,75% bis 2,50% f眉r SOFR-basierte Kredite und von 0,75% bis 1,50% f眉r Alternate Base Rate und Einmonats-SOFR-Kredite und werden durch eine Preisgitter anhand der Gesamtkapitalisierungsquote festgelegt. Auf den t盲glich nicht genutzten Betrag f盲llt eine Commitment-Geb眉hr von 0,25% an. Zur眉ckgezahlte Darlehen k枚nnen innerhalb der Verf眉gbarkeit der Borrowing Base wieder aufgenommen werden.

false 0001522727 0001522727 2025-08-27 2025-08-27
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 27, 2025

USA Compression Partners, LP

(Exact name of registrant as specified in its charter)

 

Delaware   001-35779   75-2771546
(State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)

8117 Preston Road, Suite 510A

Dallas, Texas 75225

(Address of principal executive offices)

(512) 473-2662

(Registrant’s telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

 Trading Symbol(s) 

  

Name of each exchange on

which registered

 Common units representing limited partner interests

  

USAC

   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On August 27, 2025, USA Compression Partners, LP (the “Partnership”), as borrower, USA Compression Partners, LLC, USAC Leasing, LLC and USA Compression Finance Corp. (collectively, the “Guarantors” and with the Partnership, the “Loan Parties”), as guarantors, JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”), and the lenders party thereto amended and restated the Partnership’s seventh amended and restated credit agreement (as amended and restated on August 27, 2025, the “Amended and Restated Credit Agreement”). The Amended and Restated Credit Agreement matures on August 27, 2030, except that (1) if more than $50.0 million of the Partnership’s existing 6.875% senior notes due 2027 are outstanding on June 2, 2027, the Amended and Restated Credit Agreement will mature on June 2, 2027 and (2) if more than $50.0 million of the Partnership’s existing 7.125% senior notes due 2029 are outstanding on December 14, 2028, the Amended and Restated Credit Agreement will mature on December 14, 2028.

The Amended and Restated Credit Agreement provides for an asset-based revolving credit facility to be made available to the Partnership in an aggregate amount of up to $1.75 billion. The Partnership’s obligations under the Amended and Restated Credit Agreement will be guaranteed by the Guarantors. In addition, the Partnership’s obligations under the Amended and Restated Credit Agreement will be secured by: (1) substantially all of the Partnership’s assets and substantially all of the assets of the Guarantors, excluding real property and other customary exclusions; and (2) all of the equity interests of the Partnership’s U.S. restricted subsidiaries (subject to customary exceptions).

The Partnership will have the ability to request: (1) the issuance of letters of credit under the Amended and Restated Credit Agreement in an aggregate amount of up to $30.0 million; and (2) swingline loans under the Amended and Restated Credit Agreement in an aggregate amount of up to $75.0 million. Subject to certain conditions, at the Partnership’s request and with the consent of the participating lenders, the total commitments under the Amended and Restated Credit Agreement may be increased from time to time by an aggregate amount of up to $300.0 million.

The borrowing base under the Amended and Restated Credit Agreement will equal: (1) 85% of the Loan Parties’ eligible accounts at such time; plus (2) the product of (a) the lesser of (i) 80% of the aggregate net orderly liquidation value of the Loan Parties’ compression units (determined by reference to the current valuation report) over the aggregate net book value of the Loan Parties’ compression units as reflected in the Loan Parties’ quarterly financial statements as of the valuation date of the current valuation report or (ii) 100%, and (b) the book value of the Loan Parties’ eligible compression units (other than eligible compression units not yet subject to a valuation report); plus (3) the product of (a) the lesser of (i) 80% of the aggregate net orderly liquidation value of the Loan Parties’ treating assets (determined by reference to the current valuation report) over the aggregate net book value of the Loan Parties’ treating assets as reflected in the Loan Parties’ quarterly financial statements as of the valuation date of the current valuation report or (ii) 100%, and (b) the book value of the Loan Parties’ eligible treating assets; plus (4) 50% of the Loan Parties’ eligible inventory (other than eligible compression units, eligible compression units not yet subject to a valuation report, eligible finished goods inventory, eligible treating assets and eligible heavy component inventory), valued at the lower of cost or market value, determined on a first-in-first-out basis, at such time; plus (5) 80% of the Loan Parties’ eligible finished goods inventory and eligible heavy component inventory valued at cost (excluding tooling and set-up costs, sales taxes and other soft costs), determined on a first-in-first-out basis, at such time; plus (6) 80% of the Loan Parties’ eligible compression units not yet subject to a valuation report, valued at cost; less (7) reserves established by the Administrative Agent in its permitted discretion.

Borrowings under the Amended and Restated Credit Agreement will bear interest at a per annum interest rate equal to, at the Partnership’s option, either the Alternate Base Rate, one-month SOFR (which shall only be available for swingline loans made under the Amended and Restated Credit Agreement), Daily Simple SOFR or SOFR plus, in each case, the applicable margin. “Alternate Base Rate” means the greatest of (1) the prime rate, (2) the federal funds effective rate plus 0.50% and (3) one-month SOFR rate plus 1.00%. The applicable margin for borrowings varies (a) in the case of Daily Simple SOFR and SOFR loans, from 1.75% to 2.50% per annum and (b) in the case of Alternate Base Rate loans and one-month SOFR loans, from 0.75% to 1.50% per annum, and will be determined based on a total leverage ratio pricing grid. In addition, the Borrower is required to pay commitment fees based on the daily unused amount of the Amended and Restated Credit Agreement in an amount per annum equal to 0.25%. Amounts borrowed and repaid under the Amended and Restated Credit Agreement may be re-borrowed, subject to borrowing base availability.

The Amended and Restated Credit Agreement contains various covenants with which the Partnership and its restricted subsidiaries must comply, including, but not limited to, limitations on the incurrence of indebtedness, investments, liens on assets, repurchasing equity and making distributions, transactions with affiliates, mergers, consolidations, dispositions of assets and other provisions customary in similar types of agreements. The Partnership must also maintain, on a consolidated basis, as of the last day of each fiscal quarter commencing with the fiscal quarter ending September 30, 2025, a Total Leverage Ratio (as defined in the Amended and Restated Credit Agreement) of not greater than 5.50:1.00 or less than 0.00:1.00, an Interest

Coverage Ratio (as defined in the Amended and Restated Credit Agreement) of not less than 2.50:1.00 and a Secured Leverage Ratio (as defined in the Amended and Restated Credit Agreement) of not greater than 3.00:1.00 or less than 0.00:1.00. The Amended and Restated Credit Agreement also contains various customary representations and warranties, affirmative covenants and events of default.

The Partnership may use proceeds under the Amended and Restated Credit Agreement to refinance existing indebtedness of the Loan Parties, pay fees and expenses in connection with the Amended and Restated Credit Agreement, finance working capital needs, for general company purposes and for any other purpose not prohibited by the terms of the Amended and Restated Credit Agreement.

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

 

Item 9.01

Finance Statements and Exhibits.

(d) Exhibits

 

Exhibit Number

   

Description

10.1*

   

Eighth Amended and Restated Credit Agreement, dated as of August 27, 2025, among USA Compression Partners, LP, as borrower, the guarantors party thereto from time to time, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as administrative agent and issuing bank

104

   

Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.

 

*

Certain exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish supplementally to the Commission a copy of any omitted exhibits or schedule upon request.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

USA Compression Partners, LP

 

By:

    

USA Compression GP, LLC

     

its general partner

   Date: August 27, 2025

    

By:

  

  

  

/s/ Christopher W. Porter

       

Christopher W. Porter

       

Vice President, General Counsel and Secretary

Source:

FAQ

What collateral counts toward USA Compression Partners LP's borrowing base under the amended credit agreement (USAC)?

The filing states eligible receivables, eligible finished goods inventory and heavy component inventory at cost (valued FIFO) at 80%, and eligible compression units not yet subject to a valuation report at 80%, less any reserves set by the Administrative Agent.

What interest rate options are available under the Amended and Restated Credit Agreement for USAC?

Borrowings may bear interest at Daily Simple SOFR, SOFR plus a margin, one-month SOFR (swingline only), or an Alternate Base Rate (greatest of prime, federal funds +0.50%, or one-month SOFR +1.00%).

How are margins determined and what are the ranges for USAC's credit facility?

Applicable margins are set by a total leverage ratio pricing grid. For Daily Simple SOFR and SOFR loans margins range from 1.75% to 2.50% per annum; for Alternate Base Rate and one-month SOFR loans margins range from 0.75% to 1.50% per annum.

Are there fees for unused commitments in the USAC credit agreement?

Yes, the borrower must pay a commitment fee equal to 0.25% per annum on the daily unused amount of the facility.

Can amounts repaid under the USAC facility be borrowed again?

Yes, amounts borrowed and repaid may be re-borrowed, subject to borrowing base availability.
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USAC Latest News

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USAC Latest SEC Filings

Aug 14, 2025
[Form 4] USA COMPRESSION PARTNERS LP Insider Trading Activity
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[8-K] USA COMPRESSION PARTNERS LP Reports Material Event
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[10-Q] USA COMPRESSION PARTNERS LP Quarterly Earnings Report
Aug 6, 2025
[8-K] USA COMPRESSION PARTNERS LP Reports Material Event
Jul 9, 2025
[SCHEDULE 13G/A] USA COMPRESSION PARTNERS LP SEC Filing

USAC Stock Data

2.95B
75.38M
38.55%
40.96%
2.46%
Oil & Gas Equipment & Services
Natural Gas Transmission
United States
DALLAS