SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report
January 2, 1996
(Date of Earliest Event Reported)
SEITEL, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-14488 76-0025431
(Commission File Number) (IRS Employer Identification No.)
50 Briar Hollow Lane, West 7th Floor
Houston, Texas 77027
(Address of principal executive offfices) (Zip code)
Registrant's telephone number, including area code
(713) 627-1990
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Index to Exhibits at Page -3-
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Item 5. OTHER EVENTS
On January 2, 1996, the Company released the press release attached
hereto as an exhibit, which is hereby incorporated herein by reference. This
press release is being filed pursuant to rule 135c(d).
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) Exhibits
99 Press release dated January 2, 1996
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: January 11, 1996
SEITEL, INC.
BY: /s/ Paul A. Frame
--------------------------------------------
PAUL A. FRAME
President and Chief Executive Officer
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INDEX TO EXHIBITS
Exhibits Page No.
99 Press release dated January 2, 1996 4
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SEITEL NEWS
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CONTACT: Jay M. Green, V.P. & Director of Investor Relations
(203)629-0633
FOR IMMEDIATE RELEASE
SEITEL COMPLETES PRIVATE PLACEMENT OF
$75 MILLION "INVESTMENT GRADE" SENIOR NOTES
HOUSTON, TX, January 2, 1996 -- Seitel, Inc. (NYSE: SEI), a diversified
niche-energy company, today announced it has completed a private offering to
institutional investors of unsecured Senior Notes, which received an
investment-grade rating of Triple B ("BBB") from Duff and Phelps Credit Rating
Co. The Senior Notes will be issued in three series, which will total $75
million.
On December 28, 1995, Seitel issued its Series A Notes and Series B
Notes, which total $52.5 million and bear interest at a fixed rate of 7.17%. The
company will issue its Series C Notes, in the amount of $22.5 million, within
the next six months to the purchasers of the Series B Notes. The Series C Notes
will bear interest at 1.45% above the yield of 5-year maturity U.S. Treasury
securities at the time of issuance. Interest on the Notes is payable
semi-annually.
The Series A Notes mature on December 30, 2001, with equal principal
payments of $8.33 million due annually beginning December 30, 1999. The Series B
and Series C Notes mature on December 30, 2002, with equal principal payments
aggregating $10 million and due annually beginning December 30, 1998.
Seitel intends to use the net proceeds from the Senior Notes to repay
existing secured bank financing, to repay other debt, to fund the petroleum
exploration and production activities of its wholly-owned subsidiary, DDD
Energy, Inc., and for other working capital or general corporate purposes.
The Senior Notes have not been registered under the Securities Act of
1933 and may not be offered or sold in the United States absent registration or
an applicable exemption from registration. This announcement does not constitute
an offer or solicitation for the sale of Senior Notes.
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