By Lisa Kerner
Charlotte, N.C., Nov. 23 – Tetra Technologies, Inc. completed its placement of $125 million of 11% seven-year senior notes with GSO Tetra Holdings LP on Nov. 20, according to an 8-K filed with the Securities and Exchange Commission.
The company entered into a note purchase agreement with GSO on Nov. 5.
Proceeds were used to repay the amount outstanding under Tetra’s credit agreement, to purchase notes under a tender offer and to repay in full amounts owed under its outstanding 5.9% senior notes, series 2006-A, due April 30, 2016, the filing stated.
Interest on the notes will be due quarterly on March 15, June 15, Sept. 15 and Dec. 15 of each year, beginning on March 15, 2016
Tetra is a Woodlands, Texas-based oil and gas services and production company.
| Issuer: | Tetra Technologies, Inc.
|
| Issue: | Senior notes
|
| Amount: | $125 million
|
| Maturity: | Nov. 5, 2022
|
| Coupon: | 11%
|
| Investor: | GSO Tetra Holdings LP
|
| Announcement date: | Nov. 6
|
| Settlement date: | Nov. 20
|
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