Basic Energy Services Inc., Midland, Texas, (NYSE: BAS) plans to redeem all $285,000 of the outstanding principal amount of its 11.625% senior secured notes due 2014 not tendered and purchased by Basic in a pending tender offer.
Basic will use proceeds from its recently issued 7 3/4% senior notes due 2019 to fund the redemption.
Basic Energy Services provides well site services primarily in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas and the Rocky Mountain and Appalachian regions.
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