CALGARY,
AB, March 6, 2024 /CNW/ - SECURE Energy
Services Inc. ("SECURE" or the "Corporation") announced that it has
delivered a notice of redemption (the "Redemption Notice") for all
of its outstanding 7.25% Senior Unsecured Notes due 2026 (the
"Notes") effective March 5, 2024. The
aggregate principal amount of the Notes currently outstanding is
$340 million. As set forth in the
Redemption Notice, the redemption date will be March 22, 2024 ("the Redemption Date"), and the
redemption price is 103.625% 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"). Redeeming the
Notes will alleviate restrictive covenants associated with
shareholder returns. Looking ahead, SECURE will continue to
optimize its capital structure to provide increased financial
flexibility in support of the Corporation's strategic
initiatives.
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 Odyssey Trust Company as 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.