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Calfrac Announces Tender Results and Expiration of the Tender Offer for its 7.50% Senior Notes Due 2020
Calfrac Announces Tender Results and Expiration of the Tender Offer for its 7.50% Senior N...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n\n\n\nCalfrac Announces Tender Results and Expiration of the Tender Offer for its 7.50% Senior Notes Due 2020\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 23, 2018\n\n\n\nCALGARY, May 23, 2018 /CNW/ - Calfrac Well Services Ltd. (\"Calfrac\") (TSX-CFW) is pleased to announce today the tender results for Calfrac Holdings LP's (the \"Company\") previously announced tender offer (the \"Tender Offer\") with respect to its outstanding 7.50% senior notes due 2020 (the \"Existing Notes\"). The Tender Offer expired at 5:00 p.m., New York City time, on May 22, 2018 (the \"Expiration Time\").\n\nTender Results \n\nCalfrac announces that, according to information provided by Global Bondholder Services Corporation, the depositary and information agent for the Tender Offer, that approximately 80.76% of the outstanding principal amount of the Existing Notes, or $484,531,000, have been validly tendered and not validly withdrawn pursuant to the Tender Offer as of the Expiration Time. \n\nAll of the Existing Notes validly tendered and not withdrawn as of the Expiration Time will be accepted for purchase by the Company. The withdrawal deadline with respect to the Existing Notes has expired. Accordingly, validly tendered Existing Notes tendered through expiration of the Tender Offer may not be withdrawn, except as set forth in the Tender Offer Memorandum dated May 9, 2018 describing the terms of the Tender Offer (the \"Offer Memorandum\").\n\nAbout the Tender Offer \n\nThe Tender Offer expired at 5:00 p.m., New York City time, on May 22, 2018. Payment for the Exiting Notes validly tendered and accepted for purchase prior to the Expiration Time and validly tendered and delivered (and not validly revoked) will be made promptly on the May 30, 2018 (the \"Settlement Date\"). Holders of Existing Notes tendered prior to the Expiration Time will receive the tender offer consideration of $1,013.70 per $1,000 principal amount of Existing Notes tendered. In addition, accrued and unpaid interest will be paid on the tendered Existing Notes up to but not including th...