joined thanks Eric released Chris. results. everyone, you, morning, another of I call reflected quarter quarter XXXX joining first Scheller, record our the and Good call. our am our Thank COO.
This we on by for morning, results, which
revenue calls, saw focusing gross financial contract quarter we value. horsepower. demand-driven deployment we revenue disciplined, quarter EBITDA, driven which and cash margin, tenors. to laid of horsepower flow, prudent Our revenue during Of believe record record note, by on to sustains performance per adjusted were average continued drive staying operational results unitholder and previous enhances capital strategy have By first extended generating distributable generating decision average adjusted revenues, through levels, our another we of and with pricing making and return-based out
issued highs. stack the Consistent at with period-end we an XXXX, important capital our March Our last call, quarter.
In basis We notes several redeemed my billion to the opportunistically average remaining addressed XXXX. XXX all senior during both were due used $X during first partnership revolving X XXXX credit X/X% and proceeds our million the due utilization commentary X record of notes also the reduce net facility. and of on of components X/X% our senior
notes was even Our lows virtually substantially recent XXX XXXX. was pressure spread the in perfect well benchmark the January our rates. issue in marketplace last of to timing high-yield performed treasuries points, interest the light with in The close have to seen basis recent of and oversubscribed the on
which the as rating well as The units, structure, to simplifying Series cash Additionally, on of flow well common XXXX. our to public in XXX units has senior coming convert issued increase this of million common Moody's.
Further, of preferred opportunistically reflect up April this A issuance due refinancing units an us continue work received XXXX.
XXXX XXX,XXX updated X our float sets as activities impact for of partnership's into a been X, on XX,XXX,XXX preferred XXXX, X, April units holders from of credit elected upgrade aggregate effective guidance the were to quarters of the the our these conversion. notes over of capital the of distributable completion
prior was distributable was X.XXx, may which quarter's You flow ratio, coverage. that lower have our X.XXx noticed coverage our slightly cash than
believe events that calculated as X.Xx. higher unitholder we ratio of slightly X.XXx under quarter's changes credit enhance the were due our potentially was to leverage facility, returns our run. onetime prior of our will over these Additionally, Both than long
of be horsepower units our XXXX. XX,XXX horsepower half the call, last during represented mentioned of new of These we leverage to units our order. were first ratio, as delivered we remainder Regarding large during the late expecting XXXX our
that under of will delivered report contracts. deployed this our first towards in to the was XX,XXX higher often leverage April, The led quarter, field horsepower X,XXX begin X.Xx. XX,XXX leverage been back happy was into believe during but for long-term the quarter, these ratio horsepower we to and are slightly the delivered front-loaded remaining the We of trend to units purchase ratio
quarter units Regarding the I date issued, of million early flow cash Then their our another into coverage This units record common $XXX in first have they common being units as distributable resulted our been Series today. preferred we to units XX in of to converting believe units as preferred to unitholders April, attributable prior ratio, million least A of open mentioned, approximately converted which began January. results. common markets preferred to our sold at the half in
the of flow impact leverage a ratio coverage reduce the positive. has and We on brought conversion over believe ratio cash cash our ratio, flow our [ small be float very our common distributable units preferred ] we our the While increase public enhanced a units time. to to distributable will continue coverage should that
of of During will the continue units been converted have first simplifying XXX on preferred Through Series improving our focus A X coming opportunistically year, the million and the units. months structure. of out to capital we quarters, to XXX common million
the refinanced have almost all through XXXX debt our notes attractive financing fixed XXXX. at rate interest senior rate We and an of up our firmed for
due the to our $X used billion end credit issuance the in of facility, we proceeds pay senior credit at X from our notes redeem our resulting remainder proceeds of to senior the the million XXXX use borrowed I $XXX notes under quarter. March the and X/X% all of As XXXX down XXXX mentioned, of our of facility
amount notional December the points SOFR through about at recall, below the current swap extends you rate. XXXX and rate million XXX of is interest $XXX basis fixed to our floating If
at market of support indebtedness attractive weighted existing core locked average our XX, our this we business. investor refinance that essentially pleased billion of such, were As the in extremely a for March underlying of X.XX%. rates with in current offering rate our and to $X.XX billion $X.XX XXXX, interest at of indebtedness We ability believe our as reflects
we in our maximizing do, to have think capital made to and strong structure. we progress work to far, we have regards so While be we'll continue still opportunistic
we including the prudent reminder, XXXX, fully of the our and senior facility As notes changes refinancing eventual believe a exiting credit preferred of our distribution Series our renewing units before we focusing capital policy. is our action to course our on A structure, to consider
believe during look path. on the to of than to only new the remain few Russia-Ukraine call. months last ago Middle uncertainty, the remains thought the forward previous near-term we arisen We has since As Inflation a call be our prospects rest still mere X year, the experts we prudent is of bullish a gas still laid months approach have earnings out industry, tensions long-term we our natural the see stickier grown ongoing East. also which conflict ago, but the turning is out in and the
be including also Jamie We ever the according stagflation potential for will election Dimon. insightful longer have that for to the rates higher and interest upcoming the
with enabling stable success. believe flows, such, to As XXXX and cash reduce we USA produce focus position Compression leverage is reduced a we growth, long-term that us internally year for
active equipment. operational growth at We returns, efficiency, will continue capital to improvements improve return attractive strive pricing to purchasing through pursue on convert status of idle units opportunistic maximize and internal to
economic financial to we maintain and last us headwinds. this As storms said any will we quarter, created to allow weather flexibility geopolitical operational believe by strategy or current
results, comments call Before day. to make discuss first Eric employees, do few to safety. home we like a I thing ensure The quarter each Schuller to regarding and customers most is that would over return turning to our the important contractors safely
Compression I'm resulted that our extremely to X I every Eric discuss focus turn proud of has proud safety very accomplishment their safety policies our Scheller, We tireless in our call first quarter this over commitment on incident quarter. and USA to of employee adherence rate our and the COO, of are for total procedures.
With the first recordable a thank highlights. and that, during will strict to
