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Total Energy Services Financing $69 MM
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Total Energy Services Inc. has announced that it has exercised its right to redeem all outstanding 5.75% Convertible Unsecured Subordinated Debentures maturing on March 31, 2016 in accordance with the terms of the trust indenture dated February 9, 2011 governing the Debentures.
The Debentures are listed and trade on the TSX under the symbol "TOT.DB" and the aggregate principal amount of Debentures outstanding is $69.0 million.
The redemption of the Debentures will be effective on May 19, 2015. Upon redemption, Total will pay to the holders of the Debentures $1007.72 per $1,000 principal amount of Debentures held less any taxes required to be deducted or withheld, which is equal to the outstanding principal amount of the Debentures plus accrued and unpaid interest thereon up to, but…
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