Calfrac upsizes eight-year senior note offering to $150 million from $125 million, to price Wednesday

By Paul A. Harris

St. Louis, Feb. 6 - Calfrac Holdings LP upsized to $150 million from $125 million its offering of eight-year senior notes (B1/B) on Tuesday, according to an informed source.

Price talk on the notes remains at the 8% area.

Pricing is expected on Wednesday morning.

RBC Capital Markets and Morgan Stanley are joint bookrunners for the notes, which will be marketed via Rule 144A for life and via Regulation S.

The notes will come with four years of call protection.

Proceeds will be used to repay bank debt, to fund capital expenditures and for general corporate purposes.

The prospective issuer is a Delaware limited partnership indirectly wholly owned by Calfrac Well Services Ltd., a Calgary, Alta.-based specialized oilfield services provider.

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