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Ensign Announces Proposed Private Offering of Senior Notes
Ensign Announces Proposed Private Offering of Senior Notes Canada NewsWire CALGA...
About this update from Ensign Energy Services Inc.
[{"type":"text","content":"\n\n\n\nEnsign Announces Proposed 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 1, 2019\n\n\n\nCALGARY, April 1, 2019 /CNW/ - Ensign Energy Services Inc. (TSX: ESI) (\"Ensign\") announced today that its wholly-owned subsidiary, Ensign Drilling Inc. (\"Ensign Drilling\"), intends to offer US$700 million aggregate principal amount of senior notes due 2024 (the \"Notes\"), subject to market and other conditions.\nEnsign intends to use the net proceeds of the offering and cash on hand to repay all outstanding loans under Ensign's existing senior loan facility and to pay related fees and expenses.\nThe Notes will be 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.\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 may only be sold in Canada pursuant to an exemption from the prospectus requirements of Canadian securities laws. The Notes will be 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. Any offers of the Notes w...