Seitel calls $125 million of $400 million 9¾% senior notes due 2014

By Toni Weeks

San Diego, June 1 - Seitel, Inc. said it will redeem $125 million of its $400 million of 9¾% senior notes due 2014 on July 1, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price will be 104.875 plus accrued interest to the redemption date.

Selection of notes for redemption will be made by the trustee, Deutsche Bank Trust Co. Americas, on a pro rata basis provided that no notes with a principal amount of $2,000 or less will be redeemed in part.

Following the redemption, $275 million of the notes will remain outstanding.

Seitel is a Houston-based provider of seismic services to the energy industry.

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