/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.
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.
