Ipsco Tubulars to repay revolving credit facility via stock proceeds

By Tali Rackner

Minneapolis, Jan. 29 – Ipsco Tubulars Inc. plans to repay a portion of the outstanding debt under its new revolving credit facility using the proceeds from a common stock offering, according to a filing with the Securities and Exchange Commission.

As of Jan. 25, there was $73.4 million of outstanding borrowings under the revolver, which matures on Dec. 7, 2022.

The remaining proceeds will be used for general corporate purposes.

Ipsco is a Houston-based seamless and welded oil country tubular goods company.

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