The Term Facility matures three years after it is drawn and provides Ensign exposure to favourable rate terms and leverages near-term free cash flow generation. Ensign intends to use the proceeds from the Term Facility and available liquidity to redeem its outstanding 9.25% senior notes due
The maturity date of the Credit Facility has been extended for three years to
The amendments to the Credit Facility includes a reduction of the facility by
The Company reaffirms its debt reduction for 2023, targeted to be approximately
The Term Facility and amended Credit Facility agreement will be made available on www.sedarplus.com.
Certain statements in this news release constitute forward-looking statements or information (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements generally can be identified by the words "believe", "anticipate", "expect", "plan", "estimate", "target", "continue", "could", "intend", "may", "potential", "predict", "should", "will", "objective", "project", "forecast", "goal", "guidance", "outlook", "effort", "seeks", "schedule" or expressions of a similar nature suggesting future outcome or statements regarding an outlook.
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.sedarplus.com. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking information contained herein is provided as at the date hereof and Ensign does not undertake 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 is a global leader in oilfield services, headquartered out of
Ensign's Common Shares are publicly traded though the facilities of the
SOURCE
© Canada Newswire, source