Smith International Selling Notes
The oil services outfit wants to raise $275 million.
Smith International
(SII)
, a supplier of products and services to the oil and gas exploration and production industry and petrochemical industry, said it is selling its $275 million of senior notes due 2016.
The Houston-based company intends to use the net proceeds to repay its debt under its U.S. revolving credit facility and for general corporate purposes.
Scroll to Continue
TheStreet Recommends
Merrill Lynch & Co. is acting as sole book-running manager on the transaction.
The company's stock fell 76 cents, or 2%, to $37.38 Monday.
This story was created through a joint venture between TheStreet.com and IRIS.
