Basic Energy starts roadshow for $200 million 10-year notes

By Paul A. Harris

St. Louis, March 30 - Basic Energy Services, Inc. began a roadshow Thursday for its $200 million offering of 10-year senior notes (B), according to an informed source.

Pricing is expected on April 7.

UBS Investment Bank, Banc of America Securities LLC and Lehman Brothers are joint bookrunners for the notes, which are being marketed via Rule 144A with registration rights. Credit Suisse and Goldman Sachs & Co. are also involved in the transaction.

The notes come with five years of call protection.

Proceeds will be used to repay bank debt related to acquisitions and for general corporate purposes.

The Midland, Texas, company is a well site services provider to oil and gas drilling and production companies.

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