By Jennifer Chiou
New York, June 23 - Enerflex Ltd. announced the successful close of its C$90.5 million private placement of unsecured notes, consisting of C$50.5 million of 4.841% five-year notes and C$40 million of 6.011% 10-year notes.
TD Securities and Scotia Capital led the best-efforts deal.
Proceeds will go towards the repayment of existing corporate debt incurred as part of the spin-off transaction resulting in Enerflex becoming an independent public company in early June and to fund working capital as well as for general corporate purposes.
Calgary, Alta.-based Enerflex supplies products and services to the oil and gas industry.
| Issuer: | Enerflex Ltd.
|
| Issue: | Unsecured notes
|
| Total amount: | C$90.5 million
|
| Warrants: | No
|
| Agents: | TD Securities and Scotia Capital
|
| Settlement date: | June 23
|
| Stock symbol: | Toronto: EFX
|
| Stock price: | C$12.20 at close June 23
|
| Market capitalization: | C$952.02 million
|
|
|
| Five-year notes
|
| Amount: | C$50.5 million
|
| Maturity: | 2016
|
| Coupon: | 4.841%
|
|
|
| 10-year notes
|
| Amount: | C$40 million
|
| Maturity: | 2021
|
| Coupon: | 6.011%
|
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