Allis-Chalmers Plans $225M Private Placement
Allis-Chalmers Energy Inc.
|Wednesday, January 03, 2007
Allis-Chalmers Energy Inc. said Wednesday that it intends to offer, subject to market and other conditions, $225 million aggregate principal amount of its senior notes due 2017 in a private placement. Allis-Chalmers plans to use the net proceeds of this offering to repay a portion of the debt outstanding under its $300 million bridge loan facility, which was incurred to finance Allis-Chalmers' recent acquisition of substantially all the assets of Oil & Gas Rental Services, Inc.