Seitel may price $400 million notes in late January or early February

By Paul A. Harris

St. Louis, Nov. 29 - Seitel Inc. and Seitel Acquisition Co. expect to price $400 million unsecured senior notes in late January or early February, according to information contained in a web-based presentation that the company made available on Wednesday.

Morgan Stanley, Deutsche Bank and UBS will lead the deal, according to a market source.

The Houston-based provider of seismic data to the oil and gas industry will also put in place $3.1 million of first-lien debt. The financing also includes an approximately $275.1 million equity contribution.

Proceeds will be used to help fund the acquisition by of the company by ValueAct Capital.

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