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
April 10, 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 offices) (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 April 10, 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 April 10, 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: April 15, 1996
SEITEL, INC.
BY: /s/ Paul A. Frame
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PAUL A. FRAME
President and Chief Executive Officer
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INDEX TO EXHIBITS
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Exhibits Page No.
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99 Press release dated April 10, 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
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SEITEL ANNOUNCES PRIVATE PLACEMENT OF
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"INVESTMENT-GRADE" SERIES C SENIOR NOTES
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HOUSTON, TX, April 1O, 1996 -- Seitel, Inc. (NYSE: SEI), a
seismic-technology company, today announced it has completed the private
offering to institutional investors of its unsecured Series C Senior Notes. The
Series C is the third in an issuance of three series of Senior Notes, which
together total $75 million and have received an investment-grade rating of
Triple B ("BBB") from Duff and Phelps Credit Rating Co.
On April 9, 1996, Seitel issued its Series C Notes, which totaled $22.5
million and bear interest at a fixed rate of 7.48%. On December 28, 1995, the
company issued its Series A Notes and Series B Notes, which totaled $52.5
million and bear interest at a fixed rate of 7.17%. 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 due annually beginning December 30, 1998.
(more)
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SEITEL -- Page 2
The net proceeds from the Series A and Series B Senior Notes were used
primarily to repay secured bank financing and other debt. Seitel intends to use
the balance of the net proceeds from the Senior Notes, including proceeds from
the Series C Notes, to fund the petroleum exploration and development 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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