Pioneer Energy Services Corp. (NYSE: PES) has redeemed $200,528,000 in aggregate principal amount of its 9⅞% senior notes due 2018 (CUSIP No. 723655AB2).
The notes were issued pursuant to an indenture, dated as of March 11, 2010, among the company, as issuer, the subsidiaries of the company listed as guarantors thereto and Wells Fargo Bank, National Association, as trustee. As of April 1, approximately $325,528,000 in aggregate principal amount of the notes remained outstanding.
The company will redeem the notes on May 1, at a redemption price equal to 104.938% of the principal amount thereof, plus accrued and unpaid interest on the notes redeemed to, but not including, the redemption date. As applicable, the selection of notes for redemption will be conducted on a pro rata basis by lot unless otherwise required by law, applicable stock exchange or depositary requirements.