US Well Services announces $12 million tap of 14½% notes due 2017

By Paul A. Harris

Portland, Ore., April 5 - U.S. Well Services, LLC and USW Financing Corp. announced in a Friday press release that they offering a $12 million tack-on to their existing 14½% senior secured notes due Feb. 15, 2017.

Syndicate names had not surfaced, as of the Friday close, market sources said.

The deal is being marketed under the provisions of Regulation D, in the United States, and under Regulation S for non-U.S. investors.

The Houston-based oilfield services provider plans to use the proceeds to purchase new equipment, including fracturing pumps and associated heavy equipment.

The original $85 million issue priced at par in February 2012.

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