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Ensign Announces Closing of Private Offering of Senior Notes
Ensign Announces Closing of Private Offering of Senior Notes Canada NewsWire CAL...
About this update from Ensign Energy Services Inc.
[{"type":"text","content":"\n\n\n\nEnsign Announces Closing of Private Offering of Senior Notes\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, April 10, 2019\n\n\n\nCALGARY, April 10, 2019 /CNW/ - Ensign Energy Services Inc. (TSX: ESI) (\"Ensign\") announced today that its wholly-owned subsidiary, Ensign Drilling Inc. (\"Ensign Drilling\"), has closed the previously announced offering of US$700 million aggregate principal amount of its 9.25% Senior Notes due 2024 (the \"Notes\"). \nThe Notes are fully and unconditionally guaranteed by Ensign and all of Ensign's existing and future restricted subsidiaries (other than Ensign Drilling) that are borrowers or guarantors under Ensign's existing revolving credit facility.\nEnsign used the net proceeds of the offering and cash on hand to repay all outstanding loans under Ensign's US$700 million senior loan facility and to pay related fees and expenses.\nThe Notes and the related note guarantees have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"Securities Act\"), or the securities laws of any other jurisdiction. The Notes may be offered only in transactions that are exempt from registration under the Securities Act, or the securities laws of any other jurisdiction. In addition, the distribution of the Notes has not been qualified by prospectus under the securities laws of the Province of Alberta or any other province or territory of Canada, and the Notes were only sold in Canada pursuant to an exemption from the prospectus requirements of Canadian securities laws. The Notes were offered in the United States only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act.\nThis press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is being issued pu...