Core Laboratories to pay down revolver with proceeds of common stock

By Wendy Van Sickle

Columbus, Ohio, May 11 – Core Laboratories NV plans to repay a portion of the outstanding borrowings under its revolving credit facility with proceeds of an underwritten public offering of 1.3 million shares of its common stock, according to a press release.

Underwriter Credit Suisse Securities (USA) LLC intends to offer the shares from time to time in one or more transactions on the New York Stock Exchange or on Euronext Amsterdam, in the over-the-counter market, through negotiated transactions or otherwise.

Core Laboratories is a Houston-based provider of production enhancement and reservoir management services for the petroleum industry.

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