CES ENERGY SOLUTIONS CORP. ANNOUNCES CLOSING OF $75 MILLION REOPENING OF SENIOR UNSECURED NOTES

Executive Summary

• CES Energy Solutions Corp. closed a $75 million private placement of 6.875% senior unsecured notes, increasing total outstanding notes to $275 million.
• The notes were issued at 103.125% of face value, yielding 5.559%, and the net proceeds will be used to repay debt on its senior syndicated credit facility and for general corporate purposes.
• The financing improves CES’s capital structure and provides liquidity to support future growth opportunities.

Key Details

• Offering Size: $75 million aggregate principal amount of additional 6.875% senior unsecured notes due May 24, 2029.
• Total Outstanding Notes: $275 million (including the original $200 million issued on May 24, 2024).
• Issue Price: 103.125% of face value plus accrued interest from May 24, 2025 to the closing date.
• Yield to Worst: 5.559%.
• Use of Proceeds: Repayment of outstanding indebtedness on CES’s senior syndicated credit facility; remainder for general corporate purposes.
• Bookrunning Managers: BMO Capital Markets and Scotiabank (joint active bookrunners); TD Securities (joint bookrunner); ATB Capital Markets, RBC Capital Markets, National Bank Capital Markets, Wells Fargo Securities (co‑lead managers); CIBC Capital Markets, Peters & Co. Limited, Raymond James (co‑managers).
• Regulatory Status: Notes not registered under the U.S. Securities Act; offered only to non‑U.S. persons under Canadian accredited investor exemption.

Notable Quotes

“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. The financing further improves our capital structure and provides ample liquidity to support potential future growth opportunities,” – Anthony Aulicino, Executive Vice President & Chief Financial Officer.