Calfrac Well Services Ltd., Calgary, (Toronto: CFW) reports that Calfrac Holdings LP, a Delaware limited partnership indirectly owned by Calfrac, intends to offer up to US$400 million aggregate principal amount of senior notes due 2020 in a private placement. Calfrac will fully and unconditionally guarantee the notes.
Calfrac Holdings intends to use the net proceeds to pay debt; to fund the previously announced tender offer for its 7.75% senior notes due 2015; for general corporate purposes; and to pay related fees and expenses.
Calfrac provides specialized oilfield services to E&P companies designed to increase the production of hydrocarbons from wells drilled throughout western Canada, in the United States, in Russia, in Mexico and in Argentina.
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