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FTSI offers $500 M of senior secured notes

FTS International Inc.

FTS International Inc. (FTSI) plans to offer $500 million of senior secured notes due 2022 in a private transaction that is exempt from the registration requirements of the Securities Act of 1933. The terms, pricing, and consummation of the offering of the notes are subject to market and other conditions.

The proceeds from the offering will be used, together with the proceeds of FTSI’s previously announced new term loan credit facility, to refinance FTSI’s existing indebtedness and to pay related fees and expenses. The obligations under the notes will be secured by equity and the current assets of FTSI's material domestic subsidiaries.

FTS International provides well completion services, including pressure pumping, wireline and water management. Exploration and production companies use FTS International’s products, services, and expertise to enhance recovery rates from oil and gas wells, primarily in unconventional plays.

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