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TUBOSCOPE VETCO INTERNATIONAL ANNOUNCES OFFERING OF SENIOR SUBORDINATED NOTES TO REDEEM EXISTING DEBT

 HOUSTON, April 14 /PRNewswire/ -- Tuboscope Vetco International Inc. (NASDAQ-NMS: TUBO) today announced the offering of $75 million principal amount of 10-3/4 percent senior subordinated notes due 2003. The notes are unconditionally guaranteed by Tuboscope Vetco International Corporation. The Notes will not be redeemable prior to April 15, 1998.
 Lehman Brothers and Merrill Lynch are the underwriters and co- managers for the offering.
 Substantially all of the net proceeds from the sale of the notes will be used to redeem all of the outstanding 14 percent Senior subordinated debentures due in 1998 and which are callable in May, 1993.
 Tuboscope Vetco International is the world's leading supplier of coating and inspection services to the petroleum industry; supplies in- service inspection for oil and gas pipelines; sells and leases advanced in-line inspection to the makers of oil country tubular goods and provides quality assurance and inspection services to a diverse range of worldwide industries.
 Tuboscope Vetco International is headquartered in Houston, and services markets in over 54 countries. 1992 sales were $165.0 million. The company is traded on the NASDAQ National Market System under the symbol TUBO.
 -0- 4/14/93
 /CONTACT: R. L. Koons of Tuboscope Vetco International Inc., 713-799-5100/
 (TUBO)


CO: Tuboscope Vetco International Inc. ST: Texas IN: OIL SU: OFR

WB -- NY087 -- 5835 04/14/93 15:27 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
Words:222
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