Business
Calfrac Announces US$150 Million Add-on Offering of Senior Notes
CALGARY , Oct. 3, 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. 3, 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, intends to offer, subject to market and other conditions, up\n to US$150 million aggregate principal amount of its 7.50% senior notes\n due 2020 in a private placement (the \"notes\").  The notes will be\n issued as additional notes under the indenture pursuant to which\n Calfrac Holdings previously issued US$450 million aggregate principal\n amount of its 7.50% senior notes due 2020 (the \"existing notes\").  The\n notes will be treated together with the existing notes as a single\n series of debt securities, and will have the same terms as and be\n fungible with the existing notes. Calfrac and Calfrac Well Services\n Corp., its wholly owned subsidiary and a Colorado corporation, will\n fully and unconditionally guarantee the notes.\n\n\nCalfrac Holdings intends to use the net proceeds from the offering of\n the notes to repay indebtedness under Calfrac's credit facilities that\n was incurred in connection with Calfrac's previously announced\n acquisition of all of the operating assets of Mission Well Services,\n LLC.\n\n\nThe notes will be sold to qualified institutional investors pursuant to\n Rule 144A under the Securities Act of 1933, as amended (the \"Securities\n Act\") and to certain non-U.S. persons in transactions outside the\n United States pursuant to Regulation S under the Securities Act.  Any\n offers of the notes will be made only by means of a confidential\n offering memorandum.  The notes will not be registered under the\n Securities Act or any applicable state securities law, and may not be\n offered or sold in the United States absent registration under the\n Securities Act and applicable state securities laws or pursuant to\n available exemptions from such registration requirements.\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 rel...