Core Laboratories Inc. /DE/ (CLB): debt financing — Core Labs issues $50M in senior secured notes at 7.25%-7.50% to refinance debt

Core Laboratories Inc. /DE/

$25M of 7.25% notes due 2028 and $25M of 7.50% notes due 2030 placed privately.
Net proceeds to pay down existing credit facility and toward 2011 Senior Notes due Sept 2023.
Notes are senior secured, rank pari passu with existing senior debt; covenants include coverage and leverage ratios.
Closing expected on or about June 28, 2023; interest payable semi-annually starting Sept 28, 2023.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Core Laboratories Inc. /DE/ incurred senior notes of $50 million in aggregate principal amount with purchasers of the Notes at 7.25% and 7.50% maturing 2028 and 2030.

Instrument: senior notes
Principal: $50 million in aggregate principal amount
Counterparty: purchasers of the Notes
Rate: 7.25% and 7.50%
Maturity: 2028 and 2030
Event: incurrence

Exact text from the filing

On May 4, 2023, Core Laboratories Inc. (the “Company”) and Core Laboratories (U.S.) Interests Holdings, Inc. (the “Issuer”) completed a private placement of $50 million in aggregate principal amount of the Issuer’s senior secured notes with $25 million due 2028 (the “2028 Notes”) at an interest rate of 7.25% and $25 million due 2030 (the “2030 Notes”) at an interest rate of 7.50%.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Core Laboratories Inc. /DE/ entered into Note Purchase Agreement with the purchasers of the Notes valued at $50 million (effective 2023-05-04).

Action: entry
Agreement: notes offering
Counterparty: the purchasers of the Notes
Value: $50 million
Effective: 2023-05-04

Exact text from the filing

The terms of the Notes are governed by a Note Purchase Agreement dated May 4, 2023 (the “Agreement”), between the Company, the Issuer and the purchasers of the Notes.

View on SEC.gov

Browse all debt financings →

Core Laboratories Inc. /DE/ filing history →

Source: SEC EDGAR

accession 0000950170-23-018053

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.