Basic Energy to repay term loan, pay down revolver with note proceeds

By Wendy Van Sickle

Columbus, Ohio, Sept. 19 – 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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