Secure Energy to sell C$200 million 7¼% senior notes due 2026

By Abigail W. Adams

Portland, Me., June 21 – Secure Energy Services Inc. plans to sell C$200 million 7¼% senior notes due 2026, according to a company news release.

National Bank Financial Markets and BMO Capital Markets are joint bookrunners and ATB Capital Markets is co-lead underwriter for the Rule 144A and Regulation S offering, which is being offered in Canada on a private placement basis.

The notes will be redeemed if the company’s merger with the Tervita Corp. is not consummated.

Proceeds will be deposited in an escrow account pursuant to the completion of the merger and used to redeem $100 million of the $500 million in principal of Tervita’s 11% senior second-lien secured notes due 2025.

Secure Energy is a Calgary, Alta.-based oil and natural gas company.

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