Basic Energy Services Inc. - 2011-02-04


Priced an upsized private offering of senior notes due 2019, which will bear interest at a rate of 7.750% per annum, increased from the previously announced amount of $250 million. The notes are being sold at 100% of their face amount.

Net proceeds will be used to fund the company's pending tender offer and consent solicitation for its existing 11.625% senior secured notes due 2014 and to redeem any of the senior secured notes not purchased in the tender offer. The remainder will be used for general corporate purposes.

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