Brief: Source Energy Announces Upsize And Pricing Of Senior Secured Notes Offering

Source Energy Services

24/05/2018 22:20

May 24 (Reuters) - Source Energy Services Ltd  SHLE.TO :
    * SOURCE ENERGY SERVICES LTD. ANNOUNCES UPSIZE AND PRICING
OF AN
OFFERING OF SENIOR SECURED NOTES
    * SOURCE ENERGY SERVICES - TWO CO'S UNITS TO ISSUE AND SELL
AN
ADDITIONAL $50 MILLION OF 10.5% SENIOR SECURED FIRST LIEN NOTES
DUE DEC 15, 2021
    * SOURCE ENERGY SERVICES - EXISTING CREDIT FACILITY WAS
AMENDED TO
INCREASE AVAILABILITY FOR BORROWINGS THEREUNDER FROM $70 MILLION
TO $88 MILLION
    * SOURCE ENERGY SERVICES -  PROCEEDS FROM ISSUANCE OF
ADDITIONAL
NOTES WILL BE USED TO INITIALLY REPAY DRAWN AMOUNTS UNDER
EXISTING CREDIT FACILITIES
    * SOURCE ENERGY SERVICES - ADDITIONAL NOTES WILL BE ISSUED
AT
$1,057.50 PER $1,000 PRINCIPAL AMOUNT WHICH REPRESENTS EFFECTIVE
YIELD OF 7.953% TO 2020

Source text for Eikon:  ID:nCNWmq4Lza 
Further company coverage:  SHLE.TO 

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