KLX Energy starts roadshow for $250 million seven-year notes; initial talk mid-to-high 9% area

By Paul A. Harris

Portland, Ore., Oct. 22 – KLX Energy Services Holdings, Inc. started a roadshow on Monday for a $250 million offering of seven-year senior secured notes, according to market sources.

The Rule 144A and Regulation S deal is expected to price on Friday.

Initial price talk has the notes coming with a yield in the mid-to-high 9% area, a trader said.

J.P. Morgan Securities LLC is the lead.

The notes come with three years of call protection.

The Wellington, Fla.-based oilfield services provider plans to use the proceeds to help fund its acquisition of Motley Services, LLC, with the balance of proceeds to be used for general corporate purposes, including acquisitions.

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