Precision Drilling Corporation Announces Closing of Senior Notes Offering
29 Luglio 2011 - 4:55PM
Marketwired
Precision Drilling Corporation ("Precision" or the "Corporation")
today announced the closing of its offering of US$400 million
aggregate principal amount of 6.50% senior unsecured notes due 2021
(the "notes") in a private placement.
Precision intends to use the net proceeds from the notes
offering to fund its capital expenditure program, including its
2011 new build program, and for general corporate purposes.
The notes were offered to qualified institutional buyers under
Rule 144A and outside the United States pursuant to Regulation S.
The notes have not been registered under the U.S. Securities Act of
1933, as amended (the "Securities Act"), and unless so registered,
may not be offered or sold in the United States except pursuant to
an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy any
securities, including the notes, nor shall there be any offer or
sale of the notes in any state, or jurisdiction in which such
offer, solicitation, or sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND
STATEMENTS
Certain statements contained in this news release, including
statements that contain words such as "could", "should", "can",
"anticipate", "estimate", "propose", "plan", "expect", "believe",
"will", "intends", "may" and similar expressions and statements
relating to matters that are not historical facts constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation and "forward-looking statements"
within the meaning of the "safe harbor" provisions of the United
States Private Securities Litigation Reform Act of 1995
(collectively, "forward-looking information and statements").
In particular, forward-looking information and statements
include, but are not limited to, the use of the net proceeds from
the notes offering. These forward-looking information and
statements are based on certain assumptions and analysis made by
the Corporation in light of its experience and its perception of
current conditions and expected future developments as well as
other factors it believes are appropriate in the circumstances.
However, whether actual results, performance or achievements will
conform to the Corporation's expectations and predictions is
subject to a number of known and unknown risks and uncertainties
which could cause actual results to differ materially from the
Corporation's expectations.
ABOUT PRECISION
Precision is a leading provider of safe and High Performance,
High Value services to the North American oil and gas industry.
Precision provides customers with access to an extensive fleet of
contract drilling rigs, service rigs, directional drilling
services, camps, snubbing units, wastewater 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 Carey Ford Vice
President, Finance and Investor Relations 403.716.4575 403.716.4755
(FAX) Precision Drilling Corporation 4200, 150 - 6th Avenue S.W.
Calgary, Alberta, Canada T2P 3Y7
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