Business
SECURE Energy Services Inc. Announces Closing of $140 Million Senior Unsecured Note Financing
SECURE Energy Services Inc. Announces Closing of $140 Million Senior Unsecured Note Finan...
About this update from Secure Waste Infrastructure Corp.
[{"type":"text","content":"\n \n \n \n SECURE Energy Services Inc. Announces Closing of $140 Million Senior Unsecured Note Financing\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION IN\n \n THE UNITED STATES\n \n OR FOR DISSEMINATION\n \n ON TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES./\n \n \n \n (All financial figures are approximate and in Canadian dollars unless otherwise noted)\n \n \n \n \n CALGARY, AB\n \n ,\n \n Oct. 4, 2021\n \n /CNW/ - SECURE Energy Services Inc. (\"SECURE\") (TSX: SES), announced today that it has successfully closed its previously announced private offering (the \"Offering\") of\n \n $140 million\n \n aggregate principal amount of 7.25% senior unsecured notes due\n \n December 30, 2026\n \n (the \"Notes\") at an issue price of\n \n $100.75\n \n , representing a yield of approximately 7%. The Offering was underwritten by National Bank Financial Markets.\n \n \n As previously disclosed, SECURE intends to use the net proceeds of the Offering to fund partial redemptions (collectively, the \"Redemptions\"), of\n \n US$100 million\n \n aggregate principal amount of the outstanding\n \n US$400 million\n \n aggregate principal amount of 11.000% senior second lien secured notes due 2025 (the \"2025 Notes\") previously issued by Tervita Corporation (\"Tervita\"), in respect of which SECURE became the obligor following its acquisition of all of the issued and outstanding securities of Tervita on\n \n July 2\n \n , 2021.  The Redemptions are anticipated to occur on\n \n October 7\n \n and 8, 2021.  Upon completion of the Redemptions,\n \n US$300 million\n \n aggregate principal amount of the 2025 Notes are expected to be outstanding. Any remaining net proceeds from the Offering will be used to pay fees and expenses incurred in connection with the Offering and for general corporate purposes.\n \n \n The Notes were conditionally offered for sale in\n \n Canada\n \n on a private placement basis pursuant to certain prospectus exemptions. The Notes have not been registered under t...