New Issue: Expro sells $100 million tap of 8½% secured notes due 2016 at 104.5 to yield 6.99%

By Paul A. Harris

Portland, Ore., July 11 - Expro Finance Luxembourg SCA priced a $100 million add-on to its 8½% senior secured notes due Dec. 15, 2016 (B1/B/) at 104.5 to yield 6.99% on Thursday, according to a market source.

The reoffer price came on top of price talk that had richened from earlier talk of 104 to 104.25.

Goldman Sachs & Co. ran the books.

The Reading, England-based oilfield services provider plans to use the proceeds for general corporate purposes.

Issuer:	Expro Finance Luxembourg SCA
Face amount:	$100 million
Proceeds:	$105 million
Maturity:	Dec. 15, 2016
Security description:	Add-on to 8½% senior secured notes due Dec. 15, 2016
Bookrunner:	Goldman Sachs & Co.
Coupon:	8½%
Price:	104.5
Yield:	6.99%
Spread:	612 bps
First call:	Dec. 15, 2013 at 104.25
Trade date:	July 11
Settlement date:	July 18
Ratings:	Moody's: B1
	Standard & Poor's: B
Distribution:	Rule 144A
Price talk:	104.5, revised from 104 to 104.25
Marketing:	Quick to market

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