08:48 AM EDT, 08/12/2024 (MT Newswires) -- Archrock ( AROC ) said Monday that its Archrock Partners unit is planning an offering of $500 million in senior notes due 2032.

The company said it plans to use the net proceeds to partially finance the cash portion of its acquisition of Total Operations and Production Services. Any leftover funds will be used for general corporate needs, which may include debt repayment, it added.

Archrock ( AROC ) said in July that it had agreed to acquire the contract gas compression services provider for $983 million in cash and stock.

The offering and acquisition are not dependent on one another, Archrock ( AROC ) said Monday.

Shares of the company were up 2.7% in recent premarket activity.

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