12:57 PM EDT, 05/24/2024 (MT Newswires) -- CES Energy Solutions ( CESDF ) said Friday it closed a $200-million private placement of 6.875% senior unsecured notes due May 24, 2029.

The oilfield-services company plans to use the net proceeds, together with draws on the company's senior syndicated credit facility, to repay its $250-million secured Canadian Term Loan Facility on more attractive terms.

This will provide the company with a maturity extension to 2029 to further support the capital structure while reducing its cost of capital.

The company's shares were last seen up $0.06 to $6.75 on the Toronto Stock Exchange.

Price: 6.75, Change: +0.06, Percent Change: +0.90