Savanna Energy Services Corp. Announces Private Offering and Pricing of Senior Notes
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 09/27/13 -- Savanna Energy Services Corp. (TSX: SVY) ("Savanna" or the "Corporation") announced today that it has priced an offering of $50 million aggregate principal amount of 7.00% senior unsecured notes (the "Senior Notes") due May 25, 2018 pursuant to a private placement in Canada. The Senior Notes were priced at 99.5% of the principal amount thereof plus accrued interest from and including May 25, 2013. The offering is in addition to the $125 million principal amount of Senior Notes which were issued on May 25, 2011. The Corporation expects to close the offering on October 2, 2013.
Savanna intends to use the net proceeds from the offering of the Senior Notes to repay a portion of its outstanding indebtedness under its senior secured revolving credit facilities.
RBC Capital Markets and TD Securities Inc. are acting as co-lead underwriters and joint bookrunners in a syndicate that also includes Scotia Capital Inc. in the offering of the Senior Notes.
The Senior Notes have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of the Senior Notes in any state, or jurisdiction in which such offer, solicitation, or sale would be unlawful.
Savanna is a leading North American contract drilling and oilfield services company providing a broad range of drilling, well servicing and related services with a focus on fit for purpose technologies and industry-leading aboriginal relationships.
Cautionary Statement Regarding Forward-Looking Information and Statements
Certain statements and information contained in this press release may constitute forward-looking information within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on certain assumptions and analysis made by Savanna in light of its experience as well as other factors it believes are appropriate in the circumstances. However, whether actual results or events will conform to Savanna's expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results and events to differ materially from Savanna's expectations. Consequently, all of the forward-looking information and statements made in this press release are qualified by this cautionary statement and there can be no assurance that the actual results or events anticipated by Savanna will be realized or, even if substantially realized, that they will have the expected effects on Savanna or its business or operations. Except as may be required by law, Savanna assumes no obligation to update publicly any such forward looking information and statements, whether as a result of new information, future events, or otherwise.
Contacts:
Savanna Energy Services Corp.
Ken Mullen
President and CEO
(403) 503-9990
(403) 267-6749 (FAX)
Savanna Energy Services Corp.
Darcy Draudson
Executive Vice-President, Finance and CFO
(403) 503-9990
(403) 267-6749 (FAX)
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Datum: 27.09.2013 - 13:36 Uhr
Sprache: Deutsch
News-ID 1267790
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