CALGARY, AB, Feb. 6, 2024 /CNW/ - SECURE Energy Services Inc. ("SECURE" or the "Corporation") announced today that it has delivered notices of redemption (the "Redemption Notices") for all of its outstanding 11.000% Senior Second Lien Secured Notes due 2025 (the "Notes"). The aggregate principal amount of the Notes currently outstanding is approximately US$153 million. As set forth in the Redemption Notices, the redemption date will be February 22, 2024 ("the Redemption Date"), and the redemption price is 105.5% of the principal amount of the Notes, plus accrued and unpaid interest up to, but excluding, the Redemption Date, all in accordance with the provisions of the indenture governing the Notes (the "Redemption"). The Redemption Notices are being delivered through the facilities of DTC. The Redemption will be fully funded with proceeds from the previously announced asset sale to Waste Connections, Inc., which closed on February 1, 2024.
This press release does not constitute a notice of redemption of the Notes. Information concerning the terms and conditions of the Redemptions are described in the Redemption Notices 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 Redemptions 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.
FORWARD LOOKING STATEMENTS
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 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.
ABOUT SECURE
SECURE is a leading waste management and energy infrastructure business headquartered in Calgary, Alberta. The Corporation'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, the Corporation 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 the Corporation 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.
