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SECURE ANNOUNCES SUCCESS OF CONSENT SOLICITATION TO AMEND ITS 11.000% SENIOR SECURED NOTES DUE 2025
SECURE ANNOUNCES SUCCESS OF CONSENT SOLICITATION TO AMEND ITS 11.000% SENIOR SECURED NOTES DUE 20...
About this update from Secure Waste Infrastructure Corp.
[{"type":"text","content":"\n \n \n \n SECURE ANNOUNCES SUCCESS OF CONSENT SOLICITATION TO AMEND ITS 11.000% SENIOR SECURED NOTES DUE 2025\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 June 19, 2023\n \n \n /CNW/ - SECURE ENERGY Services Inc. (\"SECURE\" or the \"Corporation\") (TSX: SES), today announced that, in connection with its previously announced consent solicitation (the \"Solicitation\") with respect to proposed amendments (the \"Proposed Amendments\") to the indenture (the \"Indenture\") governing its 11.000% Senior Second Lien Secured Notes due 2025 (the \"Notes\"), SECURE had received, as of\n \n 5:00 p.m.\n \n ,\n \n New York City\n \n time, on\n \n June 16, 2023\n \n (the \"Expiration Time\"), consents from the holders of more than 50% of the aggregate principal amount of the then outstanding Notes. SECURE and the subsidiary guarantors and the trustees party to the Indenture expect to enter into a fifth supplemental indenture (the \"Fifth Supplemental Indenture\") to the Indenture as soon as practicable, to give effect to the Proposed Amendments relating to the Indenture.\n \n \n The purpose of the Proposed Amendments is to fully align the restricted payment section under the Indenture with the comparable terms under the indenture governing SECURE's outstanding\n \n $340 million\n \n aggregate principal amount of 7.25% unsecured notes due 2026, which facilitates SECURE's delivery of its capital allocation priorities, including the return of capital to shareholders in the form of its quarterly dividend and opportunistic share repurchases. Subject to the terms and conditions set forth in the Consent Solicitation Statement dated\n \n June 8, 2023\n \n , SECURE will pay to the Information and Tabulation Agent, for the benefit of eligible holders of Notes who validly delivered and did not validly revoke their consents on or prior to the Expiration Time, a cash payment equal to\n \n US$5.00\n \n per\n \n US$1,000\n \n in aggregate principal amount of the Notes consented (the \"Consent Payment\"). SECURE expect...