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.