CALGARY, ALBERTA--(Marketwire - Oct. 15, 2012) - Tervita Corporation announced today that it intends to offer up to US$290 million aggregate principal amount of U.S. dollar denominated senior notes due 2019 in a private placement. Tervita intends to use the majority of the net proceeds from the sale of the notes to repay certain outstanding indebtedness under Tervita's U.S. dollar and Canadian dollar denominated revolving credit facilities (that are a part of Tervita's senior secured credit facilities) and to pay transaction fees and expenses payable to lenders pursuant to an amendment to its senior secured credit facilities. The remaining proceeds shall be used for general corporate purposes.
The notes will be offered and sold only to qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the "Securities Act") and outside the United States to persons other than U.S. persons in reliance on Regulation S under the Securities Act. The offer and sale of the notes have not been and will not be registered under the Securities Act and the notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
Cautionary Statement on Forward-Looking Statements
This press release contains forward-looking statements. The forward-looking statements contained herein include statements about our expectations for the proposed debt financing and our ability to successfully effect the foregoing. These statements are subject to the general risks inherent in our business and in the credit markets and reflect our current expectations regarding these matters. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. The forward-looking statements are only as of the date made, and Tervita Corporation does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events.
Tervita is a leading North American environmental and energy services company. More than 4,000 dedicated employees partner with natural resource and industrial companies who share our values, and work with them to create a sustainable future. Safety is our highest priority: it influences our actions, guides our decisions and shapes our culture. We maintain a strategically located network of more than 95 state-of-the-art waste management facilities and a fleet of specialized equipment and assets to help customers address production and operational waste challenges. Our highly effective, convenient and environmentally sound solutions help minimize environmental impact and maximize returns.