By Devika Patel
Knoxville, Tenn., Dec. 15 – Enerflex Ltd. said it settled a private placement of senior unsecured notes, raising $175 million and C$45 million in the four-part issue. The placement was conducted on a best-efforts basis and co-led by CIBC World Markets Corp and TD Securities (USA) LLC.
The $105 million seven-year first-tranche note accrues interest at 4.67% per year.
The $70 million 10-year second-tranche note accrues interest at 4.87% per year.
The C$15 million seven-year third-tranche note accrues interest at 4.5% per year.
The C$30 million 10-year fourth-tranche note accrues interest at 4.79% per year.
Proceeds will be used to refinance debt.
Calgary, Alta.-based Enerflex supplies products and services to the oil and gas industry.
| Issuer: | Enerflex Ltd.
|
| Issue: | Senior unsecured notes
|
| Amount: | $175 million, C$45 million
|
| Agents: | BofA Merrill Lynch
|
| Settlement dates: | Dec. 15
|
| Distribution: | Private placement
|
|
|
| First tranche
|
| Amount: | $105 million
|
| Maturity: | Seven years
|
| Coupon: | 4.67%
|
|
|
| Second tranche
|
| Amount: | $70 million
|
| Maturity: | 10 years
|
| Coupon: | 4.87%
|
|
|
| Third tranche
|
| Amount: | C$15 million
|
| Maturity: | Seven years
|
| Coupon: | 4.5%
|
|
|
| Fourth tranche
|
| Amount: | C$30 million
|
| Maturity: | 10 years
|
| Coupon: | 4.79%
|
|
|
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