Ensign Energy Services Inc. announced it has issued the redemption notice for the entire outstanding principal amount, USD 417.5 million, of its 9.25% Senior Notes (Senior Notes) due April 15, 2024, at a price of 100% plus accrued interest to date of redemption. The redemption date for the Senior Notes is December 14, 2023. The Company will be using available cash, liquidity, and draw on its previously announced three-year, $369.0 million Term Facility.

A notice of redemption will be sent to all currently registered holders of the Notes by the Trustee, U.S. Bank. As previously announced, the Company has also amended and extended its existing $900.0 million Credit Facility. The Company expects the blended interest rate between the Term Facility and the Credit Facility for the fiscal year 2024 to be approximately 8%.