Forum Energy Technologies to issue $100M senior secured bonds to refinance 9% convertible notes due 2025

FORUM ENERGY TECHNOLOGIES, INC.

Forum to issue $100M 5-year senior secured bonds via ABG Sundal Collier; proceeds to redeem all 9% convertible notes due 2025 and repay Variperm seller term loan.
Credit agreement amended to permit bond issuance; intercreditor agreement governs lien priority between bonds and existing credit facility.
New bonds' interest rate not disclosed; existing 9% notes carry ~$100M principal due 2025.
Amendment allows collateral grants from UK/Germany subsidiaries for the new bonds.

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