Artera Services LLC — formerly known as PowerTeam Services — has launched an offering of a $250 million add-on to its secured first priority notes due December 2025.

An investor call is scheduled for today, Dec. 1, at 10:30 a.m. ET via bookrunners BNP Paribas, UBS, Credit Suisse, BMO, MUFG, Deutsche Bank, Mizuho and BofA Securities. Pricing is expected late today or Wednesday.

Proceeds will be used for general corporate purposes, which may include paying all or a portion of the purchase price for future possible strategic acquisitions. Pending such use of proceeds, Artera intends to repay borrowings under the existing first-lien revolver and existing receivables facility.

The coupon on the existing notes, which were initially placed in May, is 9.033%. The current size under the bond is $736.74 million following the placing of an add-on in June.

Ratings are B-/B3 by S&P Global Ratings and Moody's, with a stable outlook from both agencies.

Artera is a national integrated infrastructure services provider to the natural gas and electric utility industries.