/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION ON TO
UNITED STATES NEWSWIRE
SERVICES/
(All financial figures are approximate and in
Canadian dollars unless otherwise noted)
CALGARY,
AB, March 22, 2024 /CNW/ - SECURE Energy
Services Inc. ("SECURE") (TSX: SES), announced today that it has
successfully closed its previously announced private offering (the
"Offering") of $300 million aggregate
principal amount of 6.750% senior unsecured notes due March 22, 2029 (the "Notes") at an issue price of
$100.00, representing a yield of
6.750%. The Offering was underwritten by a syndicate of
underwriters with BMO Capital Markets and National Bank Financial
Markets acting as joint bookrunners, ATB Securities Inc. as co-lead
manager, and CIBC World Markets Inc., TD Securities Inc., HSBC
Securities (Canada) Inc., Scotia
Capital Inc., and RBC Dominion Securities Inc. as co-managers
(collectively, the "Underwriters").
SECURE used the net proceeds of the Offering to fund the
redemption of all of the outstanding 7.25% senior unsecured notes
due 2026 at a redemption price of 103.625% of the principal amount
of the 2026 Notes, plus accrued and unpaid interest up to, but
excluding, the redemption date, being approximately $358 million.
The Notes were conditionally offered for sale in Canada on a private placement basis pursuant
to certain prospectus exemptions. The Notes have not been
registered under the U.S. Securities Act of 1933 (the "U.S.
Securities Act"), or any state securities laws, and are being
offered and sold in the United
States only to qualified institutional buyers in reliance on
Rule 144A under the U.S. Securities Act and applicable state
securities laws and outside the United
States in offshore transactions in reliance on Regulation S
under the U.S. Securities Act.
This press release does not constitute an offer to sell or a
solicitation of an offer to purchase the Notes or any other
security, and there will not be any offer, solicitation or sale of
the Notes or any other security in any state or jurisdiction in
which such an offer, solicitation or sale would be
unlawful.
ABOUT SECURE
SECURE is a leading waste management and energy infrastructure
business headquartered in Calgary,
Alberta. SECURE's extensive infrastructure network located
throughout western Canada and
North Dakota includes waste
processing and transfer facilities, industrial landfills, metal
recycling facilities, crude oil and water gathering pipelines,
crude oil terminals and storage facilities. Through this
infrastructure network, SECURE carries out its principal business
operations, including the processing, recovery, recycling and
disposal of waste streams generated by our energy and industrial
customers and gathering, optimization, terminalling and storage of
crude oil and natural gas liquids. The solutions SECURE provides
are designed not only to help reduce costs, but also lower
emissions, increase safety, manage water, recycle by-products and
protect the environment.
SECURE's common shares trade under the symbol SES and are listed
on the Toronto Stock Exchange. For more information,
visit www.SECURE-energy.com.
SOURCE SECURE Energy Services Inc.