KGS · Kodiak Gas Services, Inc.

Summary

Kodiak Gas Services, LLC issued $1,000,000,000 aggregate principal amount of 5.875% senior unsecured notes due 2031 pursuant to an indenture dated March 20, 2026, with Kodiak Gas Services, Inc. and certain subsidiaries as guarantors and U.S. Bank Trust Company, National Association as trustee. The notes carry semi-annual interest payments starting October 1, 2026, and include covenants limiting dividends, investments, debt incurrence, liens, and asset sales.

Key takeaways

• Issued $1,000,000,000 principal amount of 5.875% senior unsecured notes due April 1, 2031
• Interest payable semi-annually on April 1 and October 1, commencing October 1, 2026
• Prior to April 1, 2028, redeemable at 100% principal plus make-whole premium or up to 40% from equity proceeds at 105.875%
• On or after April 1, 2028, redemption prices: 102.938% (2028), 101.469% (2029), 100.000% (2030+)
• Covenants restrict distributions, investments, additional indebtedness, liens, asset sales, mergers, and affiliate transactions
• Change of control with rating downgrade triggers repurchase offer at 101% of principal