Pioneer Energy plans to pay down revolver debt with stock proceeds

By Wendy Van Sickle

Columbus, Ohio, Dec. 6 – Pioneer Energy Services Corp. plans to pay down borrowings under its senior secured revolving credit facility with proceeds from an offering of 9 million shares of its common stock, according to a news release.

Goldman, Sachs & Co. is acting as bookrunning manager for the offering.

Pioneer Energy is a San Antonio-based drilling services company.

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