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Basic Energy pulls $300M offering of senior secured notes

Published 03/07/2018, 03:37 PM
© Reuters.  Basic Energy pulls $300M offering of senior secured notes
  • Basic Energy Services (BAS -7.1%) sinks after saying it will not proceed with its previously announced offering of $300M of senior secured notes.
  • BAS says it decided that current rate and structure available in the market lacked the flexibility to be sufficiently attractive to move forward.
  • BAS says it is continuing to seek a new five-year revolving credit facility of as much as $150M secured by accounts receivable, inventory and certain related assets to replace the existing $120M asset-based credit facility.
  • Now read: Basic Energy Services (BAS) Presents At 23rd Annual Credit Suisse (SIX:CSGN) Energy Summit - Slideshow


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