CALGARY, AB, July 2, 2021 /CNW/ - SECURE Energy Services Inc. ("SECURE") (TSX: SES) announced today that SECURE (successor to Tervita Corporation by amalgamation) has delivered a notice of redemption (the "Notice") for US$100 million aggregate principal amount of its outstanding 11.000% Senior Second Lien Secured Notes due 2025 (the "Notes"), with a redemption price of 105.5% plus accrued and unpaid interest to the redemption date, all in accordance with the provisions of the indenture governing the Notes. The redemption of the Notes is expected to occur on or about July 16, 2021. The Notice is being delivered through the facilities of DTC.
The Notes were previously issued by Tervita Corporation and SECURE became the obligor in respect thereof in connection with its acquisition of Tervita on July 2, 2021.
This press release does not constitute a notice of redemption of the Notes. Information concerning the terms and conditions of the redemption are described in the Notice distributed to holders of the Notes by Deutsche Bank Trust Company Americas, the U.S. trustee with respect to the Notes. Beneficial holders with any questions about the redemption should contact their respective brokerage firm or financial institution.
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.
Certain information included herein is forward-looking. Many of these forward looking statements can be identified by words such as "believe", "expects", "expected", "will", "intends", "projects", "projected", "anticipates", "estimates", "continues", "objective" or similar words and include, but are not limited to, statements regarding the redemption for a portion of the Notes and the timing thereof. SECURE believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
SECURE is a publicly traded energy business listed on the TSX providing industry leading customer solutions to upstream oil and natural gas companies operating in western Canada and certain regions in the United States through its network of midstream processing and storage facilities, crude oil and water pipelines, and crude by rail terminals located throughout key resource plays in western Canada, North Dakota and Oklahoma. SECURE's core midstream infrastructure operations generate cash flows from oil production processing and disposal, produced water disposal, and crude oil storage, logistics, and marketing. SECURE also provides comprehensive environmental and fluid management for landfill disposal, onsite abandonment, remediation and reclamation, drilling, completion and production operations for oil and gas producers in western Canada. SECURE trades on the TSX as SES. For more information, visit www.secure-energy.com. Effective July 2, 2021, Tervita Corporation was acquired by SECURE.
SOURCE SECURE Energy Services Inc.