Stallion Oilfield Services to pay down $82.5 million of term debt with IPO proceeds

By Jennifer Chiou

New York, July 3 - Stallion Oilfield Services, Inc. said it plans to repay $82.5 million of term loan debt under its credit facility, according to an S-1 filing with the Securities and Exchange Commission.

The Houston-based provider of drilling support services intends to use the partial proceeds of a $287.5 million initial public offering of stock for the repayment.

Remaining proceeds will go towards general corporate purposes.

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