Forbes Energy Services Ltd., Alice, Texas, (Toronto: FRB) and subsidiaries Forbes Energy Services LLC and Forbes Energy Capital Inc. have commenced a cash tender offer to purchase any and all of their outstanding $192.5 million aggregate principal amount of 11% senior secured notes due 2015.
The issuers are offering to acquire the notes for total consideration of $1,127.50 for each $1,000 principal amount of notes, on the terms and subject to the conditions set forth in the statement. The total consideration is comprised of the purchase price of $1,097.50 for each $1,000 principal amount of the notes plus a consent payment of $30 for each $1,000 principal amount of the notes.
Jefferies & Company Inc. is the dealer manager and solicitation agent.
Forbes Energy Services is an independent oilfield services contractor that provides a broad range of drilling-related and production-related services in Texas, Mississippi, Pennsylvania and Mexico.
Recommended Reading
Air Liquide Eyes More Investments as Backlog Grows to $4.8B
2024-02-22 - Air Liquide reported a net profit of €3.08 billion ($US3.33 billion) for 2023, up more than 11% compared to 2022.
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
Bobby Tudor on Capital Access and Oil, Gas Participation in the Energy Transition
2024-04-05 - Bobby Tudor, the founder and CEO of Artemis Energy Partners, says while public companies are generating cash, private equity firms in the upstream business are facing more difficulties raising new funds, in this Hart Energy Exclusive interview.
Atlas Energy Solutions Declares Dividend
2024-02-09 - Atlas Energy’s dividend represents a 5% increase from the previous quarter’s dividend.
Northern Oil and Gas Ups Dividend 18%, Updates Hedging
2024-02-09 - Northern Oil and Gas, which recently closed acquisitions in the Utica Shale and Delaware Basin, announced a $0.40 per share dividend.