Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Stallion Oilfield Cancels Plans for $400 Million Dividend Loan

Stallion Oilfield Services Ltd. canceled plans to seek a $400 million term loan to refinance debt and fund a dividend, according to a company statement distributed yesterday by Business Wire.

The company which began marketing the deal in November as a $500 million covenant-lite term loan that was to pay 6.5 percentage points more than the London interbank offered rate with a 1.25 percent floor and an issue price of 98 cents on the dollar, according to data compiled by Bloomberg.

Stallion later decreased the size of the loan to $450 million, increased pricing by 100 basis points to 7.5 percentage points more than Libor and added a total leverage covenant, the data show.

On Dec. 14 the company made some additional revisions to the deal in an effort to close the transaction. Those changes included reducing the size of the loan by an additional $50 million to $400 million and boosting the discount to 97 cents from 98 cents, the data show.

Credit Suisse Group AG was arranging the transaction for the Houston-based company, Bloomberg data show.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.