Nine Energy to fully repay existing credit facilities via new offering

By Tali Rackner

Minneapolis, Jan. 19 – Nine Energy Service, Inc. plans to fully repay outstanding borrowings under its existing credit facility and an existing Beckman credit facility using the proceeds from a new offering of common stock, according to an FWP filing with the Securities and Exchange Commission.

The company will also use $125 million of term loan borrowings under a new credit facility to help fund the paydown.

As of Sept. 30, there was $119.8 million outstanding under the Nine Energy facility and $121 million outstanding under the Beckman facility.

Nine Energy is a Houston-based oilfield company.

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