06:52 AM EDT, 03/20/2024 (MT Newswires) -- SECURE Energy Services Inc. ( SECYF ) , which fell 1.5% from 52-week highs yesterday, overnight Tuesday said it is launching a private placement of $300 million of 6.75% senior unsecured notes due March 22, 2029.

The company plans to use the net proceeds from the offering and cash on hand to fund a redemption of $340 million of 7.25% senior unsecured notes due 2026 at a redemption price of 103.625% plus interest up to the redemption date of March 22.

The offering is being underwritten by BMO Capital Markets and National Bank Financial Markets as joint bookrunners.