MBI Energy Services withdraws $250 million notes offering

By Paul A. Harris

Portland, Ore., May 3 - MBI Energy Services, Inc. could not complete its $250 million offering of eight-year senior notes on terms it found acceptable and has decided to withdraw the deal, according to an informed source.

RBC Capital Markets was the left bookrunner. Wells Fargo Securities LLC was the joint bookrunner.

Proceeds were to have been used to repay debt and for general corporate purposes.

MBI Energy Services is a Belfield, N.D.-based provider of products and services to the energy industry. The company is focused primarily on oil resource plays in the Bakken Field.

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