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| Home : North American Energy Partners Announces Net Proceeds Offer and Partial Redemption of Its 9.125% Series 1 Senior Unsecured Debentures Due 2017 |
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Jul 23
2013 |
North American Energy Partners Announces Net Proceeds Offer and Partial Redemption of Its 9.125% Series 1 Senior Unsecured Debentures Due 2017 |
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EDMONTON, ALBERTA--(Marketwired - July 22, 2013) - North American Energy Partners Inc. ("NAEP" or "the Company") (TSX:NOA)(NYSE:NOA) today announced that it will apply up to $170,000,000 of the net proceeds of the recently completed sale of its piling business to reduce indebtedness under its outstanding 9.125% Series 1 Senior Unsecured Debentures due 2017 (the "Notes"). This will be accomplished first through an offer made to satisfy the requirement in the indenture under which the Notes were issued (the "Indenture") to use the excess proceeds from the piling asset sale (the "Sale") to purchase Notes at par. Holders of Notes have the option of accepting this offer. Secondly, the Company will partially redeem its Notes (the "Redemption"). |
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| Source:http://www.marketwire.com/mw/release.do?id=1813368&sourceType=3 |
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