Basic Energy Services has raised $275 million in a sale of senior notes in the 144a private placement market. The company intends to use the net proceeds to fund its pending tender offer and to buy back any of the senior secured notes not purchased in the tender offer.

The Texas-based oil and gas producer appointed Bank of America Merrill Lynch and Wells Fargo Securities as the joint bookrunning managers for the sale. The notes carry a coupon rate of 7.75% and are due to mature on Feb. 2019. 

Click here for the release from PR Newswire.