CES Energy to draw from credit facilities to fund note redemption

By Marisa Wong

Los Angeles, Oct. 19 – CES Energy Solutions Corp. will draw down on its credit facilities to fund the redemption of its C$288 million outstanding 6 3/8% senior notes due 2024, according to a press release.

Specifically, CES will redeem the notes by drawing down on its available C$250 million Canadian term loan facility, with the balance of about C$38 million to be drawn from its C$450 million syndicated credit facility, which had a net draw of C$120.2 million at June 30.

These facilities mature on April 25, 2026 and provide CES with ample liquidity to support its current business requirements and potential future needs, the company said.

CES is a Calgary, Alta.-based provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield.

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