Commentary & Deal Flow

Wellbore Integrity Solutions Parent Inc has mandated Arctic Securities as joint bookrunner to arrange a series of fixed income investor meetings commencing 5 September 2025. A USD denominated senior secured bond issue with a 4-year tenor may follow, subject to inter alia market conditions. The net proceeds from the contemplated transaction will be used to refinance existing debt and fund general corporate purposes.

Expected terms: Wellbore Integrity Solutions Parent Inc (WELBOR) US$125m sr sec 1st priority notes due 2029 (4y). NC2 (MWC), thereafter callable at par + 50/30/15/0% of the interest rate after 24/30/36/42 months. Via Arctic/Pareto jt books. List Frankfurt. Norwegian law. CoC at 101. Semi pay. UOP: refinance debt, GCP. Equity sponsor: Rhone. Biz: oil field services. HQ: Houston, TX.