CES Energy Solutions Closes C$75 Million Reopening of Senior Unsecured Notes; Shares up 2%

11:26 AM EDT, 10/23/2025 (MT Newswires) -- CES Energy Solutions (CESDF) announced Thursday that it closed its previously announced private placement offering of an additional C$75 million aggregate principal amount of its 6.875% senior unsecured notes due May 24, 2029, representing an additional issuance to the $200 million aggregate principal amount of 6.875% senior unsecured notes issued on May 24, 2024.

A statement noted that, following the closing of the offering, there will be $275 million aggregate principal amount of initial notes and notes outstanding.

The company said that the notes were issued at a price of 103.125% of their face value, plus accrued interest from May 24, 2025, to, but excluding, the date of the closing of the offering, with a yield to worst of 5.559%.

The company also said that, other than issuance date, issuance price, and initial interest accrual date, the notes have "substantially identical terms" and are fungible, following the expiry of the applicable statutory hold period, with the initial notes and are issued as part of the same series.

CES Energy Solutions (CESDF) said that the net proceeds from the issuance of the notes will be used to repay outstanding indebtedness on the company's senior syndicated credit facility, and for general corporate purposes.

BMO Capital Markets and Scotiabank acted as joint active bookrunning managers for the private placement, in a syndicate.

"We are pleased to announce the successful closing of our $75 million senior unsecured notes offering, which was completed at an attractive price reflecting the strength of our business," said CES Energy Solutions' (CESDF) executive vice president and chief financial officer Anthony Aulicino. "The financing further improves our capital structure and provides ample liquidity to support potential future growth opportunities."

The company's shares were last seen up $0.21 to $9.40 on the Toronto Stock Exchange.

Price: 9.41, Change: +0.22, Percent Change: +2.39

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