Pioneer Energy Services Corp. (NYSE: PES) will redeem the remaining $125 million, in aggregate principal amount, of its 9.78% senior notes, the company said Sept. 23.
They will be redeemed on Oct. 23, at a price equal to 104.938% of the principal amount, plus accrued and unpaid interest, the company said.
The notes are due 2018, and were issued pursuant to an indenture on March 11, 2010. The company was the issuer, its subsidiaries were guarantors and Wells Fargo Bank NA was trustee, Pioneer Energy Services added.
San Antonio-based Pioneer Energy Services Corp. provides contract land drilling services to domestic and international oil and natural gas operators.
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