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Ensign and Trinidad Announces Receipt of Requisite Consents in Consent Solicitation for Trinidad's Outstanding 6?% Senior Notes due 2025
Ensign and Trinidad Announces Receipt of Requisite Consents in Consent Solicitation for Tr...
About this update from Ensign Energy Services Inc.
[{"type":"text","content":"\n\n\n\nEnsign and Trinidad Announces Receipt of Requisite Consents in Consent Solicitation for Trinidad's Outstanding 65/8% Senior Notes due 2025\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, Jan. 15, 2019\n\n\n\nCALGARY, Jan. 15, 2019 /CNW/ - Ensign Energy Services Inc. (TSX: ESI) (\"Ensign\") and Trinidad Drilling Ltd. (TSX: TDG) (\"Trinidad\" or the \"Issuer\") announced today that, pursuant to Trinidad's previously announced consent solicitation (the \"Consent Solicitation\") relating to its outstanding 6⅝% Senior Notes due 2025 (144A CUSIP No. 896356AE2; Reg S CUSIP No. C9196PAB2) (the \"Notes\"), approximately 99.5% of holders had consented to the adoption of the proposed amendments to the Notes, which amendments eliminate or modify substantially all of the restrictive covenants as well as certain events of default and other provisions contained in the Indenture (the \"Proposed Amendments\").\nEnsign and Trinidad also announced that, pursuant to Trinidad's previously announced change of control offer (the \"Change of Control Offer\") to purchase any and all of the Notes at a price in cash equal to 101% of the principal amount of the Notes repurchased plus accrued and unpaid interest, if any, to, but excluding, the Settlement Date (as defined below), approximately 78.1% of Notes had been validly tendered (and not validly withdrawn) as of 5:00 p.m., New York City time, on January 15, 2019 (the \"Consent Deadline\").\nIn accordance with the terms and conditions of the Consent Solicitation, the right to consent to the Proposed Amendments and the right to withdraw previously delivered consents expired at the Consent Deadline.  In accordance with the terms of the Change of Control Offer, holders of Notes may continue to tender Notes at any time at or prior to 11:59 p.m., New York City time, on February 11, 2019 (such time and date, as the same may be extended, the \"Expiration Time\") and tendered Notes may be withdrawn in accordance with the Change of Control Offer at any time at or prior to 5:00 p.m., New York City time, ...