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| Home : Precision Drilling Prices Private Offering of US$400 Million Senior Notes Due 2024 |
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May 30
2014 |
Precision Drilling Prices Private Offering of US$400 Million Senior Notes Due 2024 |
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CALGARY, ALBERTA--(Marketwired - May 29, 2014) - Precision Drilling Corporation (TSX:PD)(NYSE:PDS) ("Precision") announced today that it has priced US$400,000,000 aggregate principal amount of its 5.250% Senior Notes due 2024 (the "Notes") in a private offering that is exempt from the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Notes will be guaranteed on a senior unsecured basis by current and future U.S. and Canadian subsidiaries that also guarantee Precision's revolving credit facility and certain other future indebtedness. Precision expects to use the net proceeds from this offering for general corporate purposes, including building new rigs. |
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| Source:http://www.marketwired.com/mw/release.do?id=1915528&sourceType=3 |
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