Superior Energy Services talks $300 million eight-year notes at 7%-7 1/8%

By Paul A. Harris

St. Louis, May 16 - SESI LLC, a financing unit of Superior Energy Services Inc., talked its $300 million offering of eight-year senior notes (Ba3) at 7% to 7 1/8% on Tuesday, according to a market source.

The offering is expected to price on Wednesday.

Bear Stearns & Co. and JP Morgan are joint bookrunners for the Rule 144A with registration rights notes offering.

The notes come with four years of call protection.

Proceeds will be used to fund the tender for the company's 8 7/8% senior notes due 2011 and for general corporate purposes.

The notes will be guaranteed by Superior Energy Services Inc., a Harvey, La.-based provider of specialized oilfield services and equipment.

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