Boart completes debt offer

Drilling services provider to use $US300m offering to pay down loans.

Boart Longyear (BLY) has completed a $US300 million ($321,8 million) secured notes offering and plans to use the proceeds to pay down loans outstanding under its revolving credit facility.

In a statement to the Australian Securities Exchange, the group said its wholly owned subsidiary Boart Longyear Management Pty Ltd has completed the previously announced notes offering to qualified institutional buyers.


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