Newpark Resources Inc. - 2010-09-28
Description
Plans registered public offering by the of $150 million aggregate principal amount of convertible senior notes due 2017. In addition, the company expects to grant the underwriters the right to purchase within a 30-day period up to an additional $22.5 million aggregate principal amount of notes, solely to cover over-allotments. Net proceeds will be used to pay existing indebtedness outstanding under the company's credit facility and for general corporate purposes. J.P. Morgan Securities LLC is sole book-running manager.