Precision Drilling Corporation Announces Repayment of 10% Senior Note
23 Febbraio 2011 - 10:32PM
Marketwired
Precision Drilling Corporation ("Precision") announced today that
it has repaid, in full, the 10% senior unsecured note (the "Note")
issued to Alberta Investment Management Corporation ("AIMCo."). The
aggregate repayment of approximately $204 million included the $175
million in principle, accrued interest and a "make-whole" amount
payable to AIMCo. under the terms of the Note. The repayment was
made from cash on hand and borrowings under Precision's credit
facility. The accrued interest and the "make whole" premium will be
a charge to earnings in the first quarter of 2011.
About Precision
Precision is a leading provider of safe and High Performance,
High Value energy services to the North American oil and gas
industry. Precision provides customers with access to an extensive
fleet of contract drilling rigs, service rigs, camps, snubbing
units, water treatment units and rental equipment backed by a
comprehensive mix of technical support services and skilled,
experienced personnel.
Precision is headquartered in Calgary, Alberta, Canada.
Precision is listed on the Toronto Stock Exchange under the trading
symbol "PD" and on the New York Stock Exchange under the trading
symbol "PDS".
Contacts: Precision Drilling Corporation David Wehlmann
Executive Vice President, Investor Relations 403.716.4575
403.716.4755 (FAX) Precision Drilling Corporation 4200, 150 - 6th
Avenue S.W. Calgary, Alberta, Canada T2P 3Y7
www.precisiondrilling.com
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