Global Geophysical Services talks $200 million offering of seven-year notes to yield 11%-11¼%

By Paul A. Harris

St. Louis, April 20 - Global Geophysical Services, Inc. talked its $200 million offering of seven-year senior notes (B3/B/) to yield 11% to 11¼%, an informed source told Prospect News on Tuesday.

The order books close at 2 p.m. ET on Wednesday, and the deal is set to price thereafter.

Barclays Capital Inc., Bank of America Merrill Lynch and Credit Suisse are the joint bookrunners for the Rule 144A with registration rights offering.

The notes come with four years of call protection.

Proceeds will be used to refinance the Missouri City, Texas-based seismic data services provider's credit facility and for general corporate purposes.

The bond offering comes to market concurrently with an initial public offering of the company's stock.

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