NEW ORLEANS, Dec. 8, 2011 /PRNewswire/ -- Superior Energy Services, Inc. (NYSE: SPN) announced today that SESI, L.L.C. ("SESI"), a direct, wholly-owned subsidiary of the Company, has closed its previously announced private offering to eligible purchasers of $800.0 million in aggregate principal amount of 7.125% Senior Notes due 2019 (the "Notes"). The offering represents a $100 million increase from the previously announced offering size. The Notes were priced at par. The Company also announced today that its previously announced acquisition of Complete Production Services, Inc. ("Complete") is expected to close in January 2012, subject to the approval of both the Company's and Complete's stockholders. The Company intends to use the net proceeds from this offering, together with cash on hand and the proceeds of a term loan and borrowings under a revolving credit tranche of its senior credit facility, which it intends to amend and restate, to pay the cash consideration component of the Company's announced acquisition of Complete, satisfy and discharge the indenture governing Complete's existing 8.0% senior notes due 2016, repay any amounts outstanding on the closing of the acquisition under, and terminate, Complete's senior secured credit facility and pay related fees and expenses. Forward-Looking Statements Information set forth in this press release contains "forward-looking statements" (as defined in Section 21E of the Securities Exchange Act of 1934, as amended), which reflect the Company's and Complete's expectations regarding future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but are not limited to whether and when the transactions contemplated by acquisition of Complete will be consummated, the new combined company's plans, market and other expectations, objectives, intentions and other statements that are not historical facts.
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