/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, Feb. 22, 2012 /CNW/ – Ensign Energy Services Inc. (“Ensign” or the “Company“) is pleased to announce that it has closed a private placement of
US$300 million in senior unsecured notes (the “Private Placement“). The Private Placement consists of: US$100 million in five year
notes with an interest rate of 3.43% and a maturity date of February
22, 2017; US$100 million in seven year notes with an interest rate of
3.97% and a maturity date of February 22, 2019; and US$100 million in
ten year notes with an interest rate of 4.54% and a maturity date of
February 22, 2022. The notes are unsecured and rank equally with
Ensign’s bank facilities.
Ensign used the net proceeds of the Private Placement to repay US$300
million of the Company’s recent US$400 million term facility that was
put in place for the acquisition of the Rowan Land Drilling division
and for general corporate purposes.
HSBC Securities (USA) Inc. acted as the sole bookrunner and lead private
placement agent; and J.P. Morgan Securities LLC and RBC Capital
Markets, LLC acted as co-placement agents for the Private Placement.
The notes have not been registered under the Securities Act of 1933, as
amended (the “Securities Act“) and may not be offered or sold in the United States without
registration or an applicable exemption from the registration
requirements of the Securities Act. The notes have not been and will
not be qualified for distribution to the public under applicable
Canadian securities law and any offer and sale of the notes in Canada
will be made on a basis that is exempt from the prospectus requirement
of such securities laws. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there
be any sale of the notes in a jurisdiction in which such offer,
solicitation or sale would be unlawful.
Forward Looking Statement Disclaimer
This press release contains forward-looking statements, including, but
not limited to, statements regarding the use of proceeds. These
forward-looking statements are based on Ensign’s current assumptions
and beliefs. However, these forward-looking statements are subject to,
and may be affected by, numerous risks and uncertainties, some of which
are beyond Ensign’s control. Risks that could cause or contribute to
these differences include the factors described in Ensign’s public
reports and filings, which are available under Ensign’s profile at www.sedar.com. Forward-looking statements are subject to change and Ensign does not
undertake to update, correct or revise any forward-looking statements
as a result of any new information, future events or otherwise, except
as may be required by applicable law.
Ensign Energy Services Inc. is an international oilfield services
contractor based in Calgary, Alberta. Ensign’s Common Shares (symbol:
ESI) are publicly traded through the facilities of the Toronto Stock
Exchange.
Ensign Energy Services Inc.
400 – 5th Avenue S.W., Suite 1000
Calgary, Alberta T2P 0L6 Canada
Mr. Glenn Dagenais, Chief Financial Officer
Telephone: (403) 262-1361