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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| CES Energy Solutions Corp | TSX:CEU | Toronto | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.16 | 1.71% | 9.50 | 9.44 | 9.51 | 9.52 | 9.33 | 9.36 | 551,025 | 21:12:24 |
From Dec 2022 to Dec 2024
CALGARY, AB, Nov. 30, 2023 /CNW/ - CES Energy Solutions Corp. ("CES" or the "Corporation") (TSX: CEU) (OTC: CESDF) announced today that it has completed the redemption of the Corporation's outstanding 6.375% Senior Notes due October 21, 2024 (the "Notes"), which had an aggregate principal amount of $288.0 million, on November 30, 2023 (the "Redemption Date").
The Notes were redeemed at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the Redemption Date. Interest on the Notes ceased to accrue on and after the Redemption Date.
CES redeemed the Notes by drawing down on its available $250.0 million Canadian Term Loan Facility, with the balance of approximately $40.0 million drawn from its $450.0 million Syndicated Credit Facility, which had a net draw of $92.2 million at September 30, 2023. These facilities mature on April 25, 2026, and provide CES with ample liquidity to support its current business requirements and potential future business requirements.
About CES Energy Solutions Corp.
CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES' business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.
Additional information about CES is available at www.sedar.com or on the Corporation's website at www.cesenergysolutions.com.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE CES Energy Solutions Corp.
Copyright 2023 Canada NewsWire
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