Frac Tech to get $200 million revolver to refinance existing debt

By Sara Rosenberg

New York, Nov. 2 - Frac Tech Services LLC plans on getting a new $200 million four-year senior secured revolving credit facility, according to a news release.

Proceeds will be used to replace an existing revolver.

In addition, the company is selling $550 million of senior notes to fund capital expenditures and for general corporate purposes, to return capital to equity owners and to repay existing obligations.

Frac Tech is a Cisco, Texas-based oilfield service company.

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