By Adriano Marchese
Secure Energy Services Inc. said Monday that it has agreed to sell 200 million Canadian dollars ($160.4 million) worth of senior unsecured notes in a private offering.
The Canadian public energy services company said the notes will be issued with a rate of 7.25% and due on Dec. 30, 2026.
The company said it will use the funds primarily toward the redemption of around $100 million of $500 million aggregate principal amount of an 11% senior second lien of Tervita Corp.
In early March, the company said it had entered into an agreement to acquire all issued and outstanding shares of Tervita in an all-share merger.
Secure Energy said it also would use the funds to pay down its debts.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
06-21-21 0742ET