/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR
DISSEMINATION ON TO UNITED STATES NEWSWIRE SERVICES/
(All financial figures are in Canadian dollars unless otherwise noted)
CALGARY,
AB, March 19, 2024 /CNW/ - SECURE Energy
Services Inc. ("SECURE") (TSX: SES), announced today that it has
entered into an underwriting agreement to sell, pursuant to a
private placement (the "Offering"), $300
million aggregate principal amount of 6.75% senior unsecured
notes due March 22, 2029 (the
"Notes").
The Offering is being underwritten by BMO Capital Markets and
National Bank Financial Markets 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.
SECURE intends to use the net proceeds of the Offering, together
with cash on hand, to fund the previously announced redemption of
$340 million in aggregate
principal amount of 7.25% senior unsecured notes of SECURE due 2026
(the "2026 Notes") representing all of the outstanding 2026 Notes,
at a redemption price of 103.625%, plus accrued and unpaid interest
to, but not including, the redemption date of
March 22, 2024.
The Notes are being 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, 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 news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such an offer, solicitation, or sale would be unlawful.
Forward-Looking
Statements
Certain statements contained in this press release constitute
"forward-looking statements" and/or "forward-looking information"
within the meaning of applicable securities laws (collectively
referred to as "forward-looking statements"). When used in this
press release, the words "achieve", "anticipate", "expect",
"intend" and "will", and similar expressions, as they relate to
SECURE are intended to identify forward-looking statements. Such
statements reflect the current views of SECURE with respect to
future events and operating performance and speak only as of the
date of this press release.
In particular, this press release contains or implies
forward-looking statements pertaining to: the size and terms of the
Offering, the use of proceeds of the Offering, the timing and
successful completion of the Offering, and the redemption of
certain indebtedness (including the timing of such redemption).
Forward-looking statements involve significant known and unknown
risks and uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether such results will be achieved. Readers are
cautioned not to place undue reliance on these statements as a
number of factors could cause actual results to differ materially
from the results discussed in these forward-looking statements,
including but not limited to those factors referred to under the
heading "Risk Factors" in SECURE's Annual Information Form for the
year ended December 31, 2023, which is available on SEDAR+ at
www.sedarplus.ca.
Although forward-looking statements contained in this press
release are based upon what SECURE believes are reasonable
assumptions, SECURE cannot assure investors that actual results
will be consistent with these forward-looking statements. The
forward-looking statements in this press release are expressly
qualified by this cautionary statement. Unless otherwise required
by law, SECURE does not intend, or assume any obligation, to update
these forward-looking statements.
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.