Hanover Comp (NYSE:HC)
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From Oct 2019 to Oct 2024
Hanover Compressor Company (NYSE:HC), a global market
leader in the full service natural gas compression business and a
leading provider of service, fabrication and equipment for oil and
natural gas production, processing and transportation applications,
announced today that it intends to publicly offer, subject to market
conditions, $150 million aggregate principal amount of Senior Notes
due 2013.
Hanover intends to use the net proceeds from the offering,
together with borrowings under its bank credit facility to redeem its
Zero Coupon Subordinated Notes due March 31, 2007. The offering and
sale of the Senior Notes is pursuant to an automatic shelf
registration statement on Form S-3 filed with the Securities and
Exchange Commission.
J.P. Morgan Securities Inc. and Credit Suisse Securities (USA) LLC
are joint book-running managers for the offering of the Senior Notes.
Copies of the preliminary prospectus relating to the offering of the
Senior Notes may be obtained by contacting J.P. Morgan Securities
Inc., at 270 Park Avenue, 8th Floor, New York, New York 10017,
Attention: Syndicate Desk (telephone: 1-800-245-8812).
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described above.
An offering of any such securities will be made only by means of a
prospectus. Any such prospectus shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any sale of
any such securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Hanover Compressor Company
Hanover Compressor Company (NYSE:HC) is a global market leader in
the full service natural gas compression business and a leading
provider of service, fabrication and equipment for oil and natural gas
production, processing and transportation applications. Hanover sells
and rents this equipment and provides complete operation and
maintenance services, including run-time guarantees, for both
customer-owned equipment and its fleet of rental equipment.
Forward-looking Statements
Certain matters discussed in this presentation are
"forward-looking statements" intended to qualify for the safe harbors
established by the Private Securities Litigation Reform Act of 1995
and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements can generally be identified as such
because of the context of the statement or because the statement
includes words such as "believes," "anticipates," "expects,"
"estimates," or words of similar import. Similarly, statements that
describe Hanover's future plans, objectives or goals or future
revenues or other financial measures are also forward-looking
statements. Such forward-looking statements are subject to risks and
uncertainties that could cause our actual results to differ materially
from those anticipated as of the date the statements were made. These
risks and uncertainties include, but are not limited to: our inability
to renew our short-term leases of equipment with our customers so as
to fully recoup our cost of the equipment; a prolonged substantial
reduction in oil and natural gas prices, which could cause a decline
in the demand for our compression and oil and natural gas production
and processing equipment; reduced profit margins or the loss of market
share resulting from competition or the introduction of competing
technologies by other companies; changes in economic or political
conditions in the countries in which we do business, including civil
uprisings, riots, terrorism, kidnapping, the taking of property
without fair compensation and legislative changes; changes in currency
exchange rates; the inherent risks associated with our operations,
such as equipment defects, malfunctions and natural disasters;
governmental safety, health, environmental and other regulations,
which could require us to make significant expenditures; our inability
to implement certain business objectives, such as international
expansion (including our ability to timely and cost-effectively
execute projects in new international operating environments),
integrating acquired businesses, generating sufficient cash, accessing
capital markets and refinancing existing or incurring additional
indebtedness to fund our business; risks associated with any
significant failure or malfunction of our enterprise resource planning
system, and our inability to comply with covenants in our debt
agreements and the decreased financial flexibility associated with our
substantial debt. A discussion of these and other factors is included
in Hanover's periodic reports filed with the Securities and Exchange
Commission.