Forbes Energy starts roadshow for $200 million seven-year notes

By Paul A. Harris

St. Louis, Jan. 29 - Forbes Energy Services LLC and Forbes Energy Capital Inc. began a roadshow on Tuesday for a $200 million offering of seven-year senior secured notes, according to an informed source.

Jefferies & Co. is the bookrunner for the Rule 144A offering, which is expected to price during the week of Feb. 2.

The notes come with four years of call protection and a three-year 35% equity clawback.

Moody's Investors Service has assigned a B2 rating to the notes.

The proceeds will be used to repay debt and for general corporate purposes.

Forbes Energy Services is an Alice, Texas-based independent oilfield services company that provides drilling and production related services to oil and natural gas companies.

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