Basic Energy marketing $300 million five-year secured notes; pricing expected early March 5 week

By Paul A. Harris

Portland, Ore., March 2 – Basic Energy Services, Inc. is marketing a $300 million offering of five-year senior secured notes, according to a market source.

The Rule 144A and Regulation S deal is expected to price in the early part of the March 5 week.

BofA Merrill Lynch, Morgan Stanley & Co. LLC and UBS Investment Bank are leading the deal.

The notes come with two years of call protection.

The Fort Worth oilfield services provider plans to use the proceeds, along with proceeds to its existing second amended and restated term loan agreement, to repay Basic's outstanding borrowings under its asset-based secured revolving credit facility, and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.