Enerflex Announces Closing of Private Placement Offering of US$175 Million and C$45 Million of Senior Unsecured Notes
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CALGARY, Alberta, Dec. 15, 2017 — Enerflex Ltd. (TSX:EFX) (“Enerflex” or “the Company” or “we” or “our”) today announced that it has closed a private placement offering of senior unsecured notes. The private placement offering, conducted on a bestefforts basis and co-led by CIBC World Markets Corp and TD Securities (USA) LLC, resulted in the successful issuance of US$105 million of 7-year notes bearing an interest rate of 4.67%, US$70 million of 10-year notes bearing an interest rate of 4.87%, C$15 million of 7-year notes bearing an interest rate of 4.50%, and C$30 million of 10-year notes bearing an interest rate of 4.79% (collectively, the “Notes”). The Notes rank pari passu with all current and future senior unsecured indebtedness of the Company.
Enerflex plans to use the proceeds of the issuance of the Notes to refinance existing corporate indebtedness. There will be no required or scheduled repayments of principal prior to the maturity date of each respective tranche of Notes.
Enerflex is a single source supplier of natural gas compression, oil and gas processing, refrigeration systems, and electric power generation equipment, as well as related engineering and mechanical service expertise. The Company’s broad in-house resources provide the capability to engineer, design, manufacture, construct, commission, and service hydrocarbon handling systems. Enerflex’s expertise encompasses field production facilities, compression and natural gas processing plants, refrigeration systems, and electric power equipment servicing the natural gas production industry.
Headquartered in Calgary, Canada, Enerflex has approximately 2,000 employees worldwide. Enerflex, its subsidiaries, interests in associates, and joint-ventures operate in Canada, the United States, Argentina, Bolivia, Brazil, Colombia, Mexico, Peru, Australia, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Indonesia, and Thailand. Enerflex’s shares trade on the Toronto Stock Exchange under the symbol “EFX”. For more information about Enerflex, go to www.enerflex.com.
For investor and media inquiries, please contact:
J. Blair Goertzen D. James Harbilas
President & Chief Executive Officer Executive Vice President & Chief Financial Officer
Tel: 403.236.6852 Tel: 403.236.6857