Ausdrill Finance to pay down term loan borrowings with notes proceeds

By Sara Rosenberg

New York, Oct. 22 - Ausdrill Finance Pty Ltd. intends to repay its term loan using proceeds from a $300 million senior unsecured notes offering, according to a market source.

Any remaining proceeds from the notes will be used for general corporate purposes, which may include temporarily paying down revolver borrowings.

Ausdrill Finance is an Australian mining and services company.

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