Patterson-UTI Energy to hold fixed income calls for notes offering

By Cristal Cody

Tupelo, Miss., Jan. 5 – Patterson-UTI Energy, Inc. plans to hold fixed income investor calls on Monday and Tuesday for a $500 million Rule 144A and Regulation S offering of senior notes (Baa2/BBB), according to market sources and a company news release on Friday.

BofA Merrill Lynch, Goldman Sachs & Co. and Wells Fargo Securities, LLC are the lead managers.

Proceeds will be used to repay debt under the company’s credit agreement and for general corporate purposes.

Houston-based Patterson-UTI provides onshore contract drilling and pressure pumping services to exploration and production companies.

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