Oil States starts roadshow for $600 million eight-year senior notes

By Paul A. Harris

Portland, Ore., May 19 - Oil States International, Inc. began a roadshow on Thursday for a $600 million offering of eight-year senior notes, according to an informed source.

The deal is set to price during the May 23 week.

Credit Suisse Securities (USA) LLC, RBC Capital Markets and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

The notes become callable in three years at par plus ¾ coupon. The notes feature a three-year 35% equity clawback and a 101% poison put.

The Houston-based diversified oilfield services company plans to use the proceeds to repay its revolving credit facility and for general corporate purposes.

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