Allis-Chalmers to redeem $125 million 9% senior notes due 2014 in July

By Toni Weeks

San Diego, June 20 - Allis-Chalmers Energy Inc. has issued a call to redeem $125 million of its $222.6 million 9% senior notes due 2014, according to a press release issued by parent company Archer Ltd.

The notes will be redeemed on July 18 at a redemption price of 102.25 plus accrued interest and any liquidated damages, as defined by the indenture for the notes.

The paying agent, Wells Fargo Bank, NA (800 344-5128), will redeem the notes on a pro rata basis in multiples of $1,000, subject to a minimum redemption amount of $2,000.

Allis-Chalmers is a Houston-based oilfield services company and a wholly owned subsidiary of Archer.

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