Complete Production to repay bank debt with bond proceeds

By Sara Rosenberg

New York, Nov. 15 - Complete Production Services Inc. plans to repay bank debt using proceeds from its proposed private placement of $600 million senior notes, according to a company news release.

The debt to be repaid includes the company's about $416 million term loan B, about $30 million of term loans assumed in connection with the acquisition of Pumpco Services and some of the about $143 million of borrowings drawn under its revolver.

Complete Production is a Houston-based provider of specialized services and products for oil and gas companies.

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