Compagnie Generale de Geophysique to redeem 10 5/8% notes with $150 million note proceeds

By Caroline Salls

Pittsburgh, April 18 - Compagnie Generale de Geophysique said it will redeem all $150 million outstanding of its 10 5/8% senior notes due 2007 using proceeds from its offering of $150 million of senior notes.

The proceeds, together with available cash, will also be used to pay accrued interest on the 10 5/8% notes.

Compagnie Generale de Geophysique is a Paris-based oilfield services company and manufacturer of geophysical equipment.

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