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Pioneer Energy Services Closes Senior Notes

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March 18, 2014

Pioneer Energy Services Corp. (NYSE: PES) closed its previously announced offering of $300 million, in aggregate principal amount, of 6.125% senior notes due 2022, the company said March 18.

Net proceeds will fund a portion of a previously announced cash tender offer for its outstanding 9.78% senior notes due 2018, Pioneer Energy Services said. Net proceeds not used will redeem up to $300 million of existing notes not tendered in the offer, the company added.

Early results of this tender offer were detailed, the company said, noting that about $99,472,000 ...

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