The Firm represented Precision Drilling Corporation (“Precision”) in connection with its Rule 144A and Regulation S offering of US$400 million aggregate principal amount of 5.250% Senior Notes due 2024.
Precision intends to use the net proceeds from the notes offering for general corporate purposes, including building new rigs.
Precision, based in Calgary, Alberta, is a leading independent North American provider of oil and natural gas drilling and related services and products.
The Simpson Thacher team for this transaction included: Risë Norman, David Azarkh and Brian Park (Capital Markets), Jonathan Cantor and Chang Won Choi (Tax), Timothy Mulvihill (Environmental), and Gregory Grogan and Joo Hyun Lee (Executive Compensation and Employee Benefits). Capital Markets Associate Jeongseok (Jay) Yu and Summer Associate David Whelan also provided invaluable assistance.