FTS International, Inc. Announces Completion of Its Cash Offers for Its 6.250% Senior Secured Notes Due 2022 and Term Loan Due 2021

FORT WORTH, Texas--(BUSINESS WIRE)-- FTS International, Inc. (“FTS”), announced today the completion of its previously announced offer to purchase (the “Tender Offer”) its outstanding 6.250% Senior Secured Notes due 2022 (the “Notes”) and its concurrent offer to repay (the “Term Loan Offer” and, together with the Tender Offer, the “Offers”) its Term Loan due 2021 (the “Term Loan” and, together with the Notes, the “Debt”). The Offers expired at 11:59 p.m., New York City time, on July 1, 2016 (the “Expiration Time”).

FTS has accepted for purchase $31,286,000 principal amount of Notes and $46,208,533 principal amount of Term Loan, consisting of all the Debt validly tendered prior to the Expiration Time and accepted. Payment for the Notes is expected to be made on July 6, 2016. Payment for the Term Loan is expected to be made on July 7, 2016. The table below summarizes the final information relating to the Offers:

After giving effect to the purchase of Debt pursuant to the Offers, $436,714,000 in principal amount of the Notes remains outstanding and $433,791,467 in principal amount of the Term Loan remains outstanding.

FTS retained Wells Fargo Securities, LLC, who acted as lead dealer manager, and Lazard Frères & Co. LLC, who acted as dealer manager, to serve as dealer managers for the Tender Offer and as auction managers for the Term Loan Offer. FTS appointed Global Bondholder Services Corporation (“GBS”) to serve as the depositary and information agent for the Tender Offer.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the expected timing of the payment for the Debt. Forward-looking statements give our current expectations or forecasts of future events. Although we believe our forward-looking statements are reasonable, they can be affected by inaccurate assumptions or by known or unknown risks and uncertainties, and actual results may differ from the expectations expressed. We caution you not to place undue reliance on our forward-looking statements, which speak only as of the date of this press release, and we undertake no obligation to update this information.

About FTS International

FTS International is the largest private well completion service in North America. The company provides well completion services, including pressure pumping, wireline and reservoir optimization technologies. Exploration and production companies use FTS’s products, services and expertise to enhance recovery rates from oil and gas wells, primarily in unconventional plays.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160705006167/en/

FTS International, Inc.
Investor Contact:
Lance Turner, CFO, 817-862-2000
[email protected]
or
Media Contact:
Karen Testa, 817-339-2608
[email protected]

Source: FTS International, Inc.

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