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CES ENERGY SOLUTIONS CORP. ANNOUNCES THE CLOSING OF THE REDEMPTION OF 6.375% SENIOR NOTES DUE 2024
CES ENERGY SOLUTIONS CORP. ANNOUNCES THE CLOSING OF THE REDEMPTION OF 6.375% SENIOR NOTES DUE 202...
About this update from Ces Energy Solutions Corp
[{"type":"text","content":"\n \n \n \n CES ENERGY SOLUTIONS CORP. ANNOUNCES THE CLOSING OF THE REDEMPTION OF 6.375% SENIOR NOTES DUE 2024\n \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 Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Nov. 30, 2023\n \n \n /CNW/ -\n \n CES Energy Solutions Corp.\n \n (\"\n \n CES\n \n \" or the \"\n \n Corporation\n \n \") (TSX: CEU) (OTC: CESDF) announced today that it has completed the redemption of the Corporation's outstanding 6.375% Senior Notes due\n \n October 21, 2024\n \n (the \"Notes\"), which had an aggregate principal amount of\n \n $288.0 million\n \n , on\n \n November 30, 2023\n \n (the \"Redemption Date\").\n \n \n \n \n \n \n \n \n \n The Notes were redeemed at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the Redemption Date. Interest on the Notes ceased to accrue on and after the Redemption Date.\n \n \n CES redeemed the Notes by drawing down on its available\n \n $250.0 million\n \n Canadian Term Loan Facility, with the balance of approximately\n \n $40.0 million\n \n drawn from its\n \n $450.0 million\n \n Syndicated Credit Facility, which had a net draw of\n \n $92.2 million\n \n at\n \n September 30, 2023\n \n . These facilities mature on\n \n April 25, 2026\n \n , and provide CES with ample liquidity to support its current business requirements and potential future business requirements.\n \n \n \n About CES Energy Solutions Corp.\n \n \n \n CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES' business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in\n \n North America\n \n while generating free cash flow.\n \n \n Additional info...