Business
Calfrac announces closing of US$150 million add-on offering of Senior Notes
CALGARY , Oct. 8, 2013 /CNW/ - Calfrac Well Services Ltd. ("Calfrac") (TSX-CFW) announ...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n\n\nCALGARY, Oct. 8, 2013 /CNW/ - Calfrac Well Services Ltd. (\"Calfrac\") (TSX-CFW) announced today that Calfrac Holdings LP (\"Calfrac Holdings\"), a\n Delaware limited partnership which is indirectly wholly owned by\n Calfrac, has closed a private offering of US$150 million aggregate\n principal amount of its 7.50% senior notes due 2020 (the \"notes\"). \n Fixed interest on the notes is payable on June 1 and December 1 of each\n year.  The notes will mature on December 1, 2020.  Calfrac Holdings\n intends to use the net proceeds of the offering to repay indebtedness\n under Calfrac's credit facilties that was incurred in connection with\n Calfrac's previously announced acquisition of all of the operating\n assets of Mission Well Services, LLC.\n\n\nThe notes have been offered to qualified institutional buyers in\n accordance with Rule 144A under the United States Securities Act of\n 1933, as amended (the \"Securities Act\") and outside the United States\n to persons other than U.S. persons, in reliance on Regulation S under\n that Act. The offer and sale of the notes will not be registered under\n the Securities Act, and the notes may not be offered or sold in the\n United States absent registration or an applicable exemption from the\n registration requirements of the Securities Act and applicable state\n securities laws.\n\n\nThis press release does not constitute an offer to sell or the\n solicitation of an offer to buy the notes, and there shall not be any\n sale of the notes in any state or other jurisdiction in which such\n offer, solicitation or sale would be unlawful prior to registration or\n qualification under the securities laws of any such state or other\n jurisdiction.\n\n\nThis press release contains forward-looking statements and\n forward-looking information within the meaning of applicable securities\n laws.  The use of any of the words \"expect\", \"anticipate\", \"continue\",\n \"estimate\", \"may\", \"will\", \"project\", \"should\", \"believe\", \"plans\",\n \"intends\" and similar expressions are intended to identify\n forward-looking information or statements. More particularly and\n without limitation, this press release contains forward-looking\n statements and information concerning the offering of the notes by\n Calfrac Holdings. Although Calfrac believes that the expectations...