Precision Drilling to redeem $30 million of 6˝% notes on April 16

Chicago, March 18 – Precision Drilling Corp. said it plans to redeem $30 million principal amount of its 6˝% senior notes due 2021 on April 16.

The redemption will be made with available cash on hand, according to a company press release.

According to the notice, “Debt reduction and deleveraging remains Precision’s top priority and we are pleased to accelerate our program with this redemption.”

Precision Drilling is a Calgary, Alta., provider of services to the oil and gas industry, including contract drilling rigs, directional drilling services, well service and snubbing rigs, camps, rental equipment and wastewater treatment units.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.