Ensign Completes Inaugural $700 Million Senior Notes Offering
04.10.19
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The Firm recently represented Ensign Energy Services Inc. (“Ensign”) in connection with the inaugural Rule 144A/Regulation S offering by Ensign Drilling Inc., a wholly owned subsidiary of Ensign, of $700 million aggregate principal amount 9.25% Senior Notes due 2024. Ensign used the net proceeds of the offering and cash on hand to repay all outstanding loans under Ensign’s $700 million senior loan facility and to pay related fees and expenses.
Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. Ensign is one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas and geothermal operators.
The Simpson Thacher team included Richard Fenyes, Lia Toback and Christine Turner (Capital Markets); Brian Gluck (Banking and Credit); Jonathan Cantor and Sarah Katz (Tax); Eric Wolf (Executive Compensation and Employee Benefits); and Michael Isby (Environmental).