Calfrac Closes Private Placement of Notes Due 2015
Calfrac Well Services Ltd. announced today that Calfrac Holdings LP, a Delaware limited partnership which is indirectly wholly owned by Calfrac, has closed a private offering of US $100.0 million aggregate principal amount of 7.75% senior notes due 2015. The notes have been issued at 94.5% of their face amount. Fixed interest on the notes is payable on February 15 and August 15 of each year. The notes will mature on February 15, 2015. The net proceeds from this offering will be used to repay the indebtedness under our existing credit facilities.
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