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CGGVeritas plans partial repayment of 7½% senior notes due May 2015
By Toni Weeks
San Diego, Jan. 19 - Compagnie Generale de Geophysique - Veritas (CGGVeritas) plans to repay a portion of its $530 million 7½% senior notes due May 2015 with the proceeds from a €315 million offering of convertible bonds due Jan. 1, 2016, according to a news release.
The repayment will allow the company to manage its debt and reduce its cash interest expense.
CGGVeritas is a Paris-based geophysical company.
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