Basic Energy to repay term loan, revolver debt using bond proceeds

By Sara Rosenberg

New York, March 30 - Basic Energy Services Inc. plans to repay its about $90 million term loan B and current revolver borrowings using proceeds from a proposed $200 million senior notes offering, according to a company news release.

Any remaining bond sale proceeds will be used for general corporate purposes.

Basic Energy is a Midland, Texas-based provider of well site services to oil and gas drilling and producing companies.

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