Precision Drilling Corporation Announces Closing of Senior Notes Offering
03 Juni 2014 - 5:00PM
Marketwired
Precision Drilling Corporation Announces Closing of Senior Notes
Offering
CALGARY, ALBERTA--(Marketwired - Jun 3, 2014) - Precision
Drilling Corporation ("Precision") (TSX:PD)(NYSE:PDS) announced
today the closing of its previously-announced private offering of
US$400,000,000 aggregate principal amount of 5.250% Senior Notes
due 2024 (the "Notes") in a transaction that was exempt from the
registration requirements of the U.S. Securities Act of 1933, as
amended (the "Securities Act"). The Notes were guaranteed on a
senior unsecured basis by current and future U.S. and Canadian
subsidiaries of Precision that also guarantee Precision's revolving
credit facility and certain other future indebtedness.
The Notes and the related guarantees were offered only to
qualified institutional buyers in reliance on the exemption from
registration set forth in Rule 144A under the Securities Act, and
outside the United States to non-U.S. persons in reliance on the
exemption from registration set forth in Regulation S under the
Securities Act. The Notes and the related guarantees have not been
registered under the Securities Act, or the securities laws of any
state or other jurisdiction, and may not be offered or sold in the
United States without registration or an applicable exemption from
the Securities Act and applicable state securities or blue sky laws
and foreign securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, any securities, nor shall there be
any sales of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
This notice is being issued pursuant to and in accordance with Rule
135(c) under the Securities Act.
About
Precision
Precision is a leading provider of safe and High Performance,
High Value services to the oil and gas industry. Precision provides
customers with access to an extensive fleet of contract drilling
rigs, directional drilling services, well service and snubbing
rigs, coil tubing services, camps, rental equipment, and water
treatment units backed by a comprehensive mix of technical support
services and skilled, experienced personnel.
Precision is headquartered in Calgary, Alberta, Canada.
Precision is listed on the Toronto Stock Exchange under the trading
symbol "PD" and on The New York Stock Exchange under the trading
symbol "PDS".
Precision Drilling CorporationCarey FordVice President, Finance
and Investor Relations403.716.4575403.716.4755
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