Chicago, Sept. 21 – Secure Energy Services Inc. entered into an underwriting agreement to sell C$140 million of 7¼% senior notes due Dec. 30, 2026 at 100.75 to yield 7%, according to a press release.
The underwriter for the offering is National Bank Financial Markets.
Distribution is via Rule 144A and Regulation S.
Proceeds will be used to redeem a total of $100 million of the $400 million principal amount of 11% senior second-lien secured notes due 2025 previously issued by Tervita Corp. Secure became the obligor of the notes after its acquisition of all of the issued and outstanding securities of Tervita on July 2.
Any remaining proceeds will be used for fees and expenses and general corporate purposes.
Secure Energy is a Calgary, Alta.-based oil and natural gas company.
| Issuer: | Secure Energy Services Inc.
|
| Issue: | Senior notes
|
| Amount: | C$140 million
|
| Maturity: | Dec. 30, 2026
|
| Bookrunners: | National Bank Financial Markets
|
| Coupon: | 7¼%
|
| Price: | 100.75
|
| Yield: | 7%
|
| Announcement date: | Sept. 21
|
| Distribution: | Rule 144A and Regulation S
|
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