Compagnie Generale de Geophysique to price $165 million add-on to 7½% notes due 2015 Friday

By Paul A. Harris

St. Louis, Jan. 26 - Compagnie Generale de Geophysique plans to price a $165 million add-on to the 7½% senior notes due May 15, 2015 (existing ratings Ba3/BB-) on Friday morning, according to a market source.

Credit Suisse and BNP Paribas have the books for the Rule 144A and Regulation S add-on.

The notes are callable after May 15, 2010 at 103.75 and contain an equity clawback until May 15, 2008 for 35% at 107.50.

Proceeds will be used to repay about $140 million remaining under the company's $375 million bridge loan used to finance the acquisition of Exploration Resources.

The original $165 million issue priced at par in April 2005.

The issuer is a Massy, France-based provider of geophysical services to the petroleum industry.

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