SECURE Energy's closing of C$300M senior unsecured note financing
On March 22, 2024, SECURE Energy Services Inc. ("SECURE") successfully closed its previously announced private offering (the "Offering") of C$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 C$358 million.
SECURE is a leading waste management and energy infrastructure business headquartered in Calgary, Alberta.
McCarthy Tétrault assisted SECURE with a team led by John Piasta that included Andrew Parker, Farhiyah Shariff, Ashley Wilson and Karsten Carriere (Business).
