CGG-Veritas to price $300 million notes Tuesday via Credit Suisse, BNP

By Paul A. Harris

St. Louis, June 1 - Compagnie Generale de Geophysique - Veritas is expected to price about $300 million of senior notes due 2016 on Tuesday, according to a market source.

Credit Suisse will lead the Rule 144A offering from the Paris-based provider of geophysical equipment and services. BNP Paribas Securities Corp. will be involved as well.

Proceeds will be used to replace cash used to repay $100 million of senior bank debt. Proceeds will also be used to fund $83 million of scheduled senior bank debt repayments in 2009 and to repay $50 million of other bank debt, with any remaining proceeds to be used for general corporate purposes, including other debt repayment.

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