Basic Energy Services (BAS) Commences Private Offer of $225M in Senior Notes
Basic Energy Services, Inc. (NYSE: BAS) announced today that it has commenced an offering, through a Rule 144A private placement, of $225 million of Senior Notes due 2017. Basic Energy Services intends to use a portion of the net proceeds from the proposed offering to pay down an aggregate of approximately $180.0 million under the Tranche A and Tranche B portions of its revolving credit facility (as of July 2, 2009), and the remainder for general corporate purposes.
The notes are being offered inside the United States to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
The notes are being offered inside the United States to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
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