HOUSTON--(BUSINESS WIRE)--Nov. 19, 2013--
Forum Energy Technologies, Inc. (NYSE: FET) (the “Company”) announced
today the pricing of an offering of an additional $100 million aggregate
principal amount of its 6.250% Senior Notes due 2021 (the “Additional
Notes”) to eligible purchasers in a private placement under Rule 144A
under the Securities Act of 1933, as amended (the “Securities Act”), and
to persons outside of the United States pursuant to Regulation S under
the Securities Act. The Additional Notes will have identical terms and
will constitute part of the same series as the Company’s existing $300
million aggregate principal amount of 6.250% Senior Notes due 2021
issued on October 2, 2013. The Additional Notes will be issued at a
price equal to 103.250% of the principal amount thereof, resulting in a
yield to worst of 5.590%. Purchasers also will pay accrued interest from
October 2, 2013 through the closing date. The Company expects the
offering of the Additional Notes to close on November 22, 2013, subject
to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering to reduce
borrowings outstanding under its revolving credit facility.
The securities to be offered have not been registered under the
Securities Act or any state securities laws; and unless so registered,
the securities may not be offered or sold in the United States or to
U.S. persons except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act and
applicable state securities laws. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy, nor
shall there be any sale of these securities, in any jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
Forum Energy Technologies, Inc., headquartered in Houston, Texas, is
a global provider of manufactured technologies and applied products to
the energy industry.
Source: Forum Energy Technologies, Inc.
Forum Energy Technologies, Inc.
Investor Contact
Mark
Traylor, 281.368.1108
Vice President, Investor Relations and
Planning
mark.traylor@f-e-t.com
or
Media
Contact
Donna Smith, 281.949.2514
Director, Marketing &
Communications
donna.smith@f-e-t.com
