Basic Energy Services Prices Upsized Private Offering of Senior Notes

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Basic Energy Services, Inc. ( BAS ) has priced an upsized private offering of $300 million of Senior Notes due 2022, which will bear interest at a rate of 7.750% per annum.

The company intends to use the net proceeds from the offering to fund its pending tender offer and consent solicitation for its existing 7.125% Senior Notes due 2016, to redeem any of the 2016 notes not purchased in the tender offer, and the remainder for general corporate purposes.

BAS has shed nearly 4% yesterday, moving closer to year low $8.52.

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This article appears in: Investing , Commodities


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