FTSI completes $350 million notes offering

FTS International Inc. (FTSI) has completed an offering of $350 million of senior secured floating rate notes due 2020 in a private transaction that is exempt from the registration requirements of the Securities Act of 1933.

The proceeds from the offering will be used to repay all outstanding borrowings under FTSI’s existing revolving credit facility, to pay related fees and expenses and for general corporate purposes.

FTSI provides oilfield services to oil and natural gas exploration and production companies in the US, including high-pressure hydraulic fracturing. The company provides well completion services, such as pressure pumping, wireline and reservoir optimization technologies. Exploration and production companies use FTSI’s products, services, and experience to enhance recovery rates from oil and gas wells, primarily in unconventional plays.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...