Forum Energy to pay down revolver debt with stock IPO proceeds

By Sara Rosenberg

New York, Sept. 1 - Forum Energy Technologies Inc. plans on repaying borrowings under its revolving credit facility using proceeds from an initial public offering of common stock, according to an S-1 filed with the Securities and Exchange Commission on Thursday.

The revolver matures in August 2014 and currently carries pricing of Libor plus 275 basis points.

Forum Energy is a Houston-based oilfield products company.

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