HOUSTON, Nov. 6, 2013 (GLOBE NEWSWIRE) -- Layne Christensen Company (Nasdaq:LAYN) (the "Company") announced today the pricing of its offering of $110.0 million aggregate principal amount of 4.25% Convertible Senior Notes due 2018 (the "notes"). The notes will be offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), by the initial purchaser of the notes. The Company has also granted the initial purchaser of the notes a 30-day option to purchase up to an additional $15.0 million aggregate principal amount of notes, solely to cover overallotments. The Company intends to use the net proceeds from this offering to repay the amounts outstanding under its revolving credit facility. To the extent the net proceeds of this offering exceed the amounts outstanding under our revolving credit facility, the Company intends to use the excess for working capital and general corporate purposes.
Layne Christensen Company Prices Offering Of $110.0 Million 4.25% Convertible Senior Notes Due 2018
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