Stallion Oilfield to redeem remaining senior secured notes due 2015

By Angela McDaniels

Tacoma, Wash., June 3 - Stallion Oilfield Holdings, Inc. plans to redeem the remaining $134 million of its senior secured notes due 2015, according to a company news release.

The company will use proceeds from a proposed new $350 million senior secured term loan to fund the redemption.

Proceeds will also be used to fund a portion of a roughly $217 million dividend to the company's stockholders.

Stallion Oilfield is a Houston-based provider of wellsite support, completion, production and logistics services to oil and gas exploration and production companies, drilling contractors and other service companies.

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