SAExploration begins $150M senior secured notes offering

SAExploration Holdings Inc.

SAExploration Holdings Inc. (NASDAQ: SAEX, OTCBB: SAEXW) has begun a private offering of $150 million aggregate principal amount of senior secured notes due 2019. The notes will bear an interest rate of 10.00%. The offering is expected to close on July 2.

SAE plans to use the net proceeds of the offering of the notes to repay certain of its existing indebtedness, fund the purchase of equipment related to its Alaska operations, pay related fees and expenses, and for general corporate purposes.

 

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