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Basic Energy Services to repay term loan agreement via note proceeds
By Tali Rackner
Minneapolis, Feb. 28 – Basic Energy Services, Inc. plans to repay existing debt under its second amended and restated term loan agreement using proceeds from a new $300 million senior secured note offering, according to a press release.
Proceeds will also be used to repay outstanding borrowings under the company’s asset-based secured revolving credit facility and for general corporate purposes.
Basic Energy Services provides well site services and is based in Fort Worth.
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