Total Energy Services Inc. Repays 7.0% Senior Unsecured Notes
CALGARY, Alberta, May 25, 2018 (GLOBE NEWSWIRE) — Total Energy Services Inc. (“Total”) (TSX:TOT) has repaid $67.53 million principal amount of 7.0% senior unsecured notes issued by its wholly-owned subsidiary Savanna Energy Services Corp. together with $2.34 million of accrued interest thereon (the “Savanna Indebtedness”). Repayment of the Savanna Indebtedness was funded by a $50 million draw on Total’s $290 million primary revolving bank credit facilities and $19.9 million of cash on hand.
Headquartered in Calgary, Alberta, Total provides contract drilling services, rentals and transportation services, well servicing and compression and process equipment and service to oil and natural gas producers operating in North America, Australia and other international markets. The common shares of Total are listed and trade on the TSX under the symbol TOT.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
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