Compagnie Generale de Geophysique Veritas (CGGVeritas) has raised $650 million in a sale of bonds. The senior notes, carrying a coupon rate of 6.5%, will mature on June 1, 2021.

The international pure-play geophysical company plans to use the proceeds to pay back its term loan B facility and to redeem the remaining $70 million principal amount of its 7½% senior notes. Credit Suisse, Bank of America Merrill Lynch and BNP Paribas were the joint book-runners for the deal, adds Reuters.

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