September 22, 2017 / 12:42 PM / 3 months ago

BRIEF-Western Energy Services announces concurrent debt and equity financings

Sept 22 (Reuters) - Western Energy Services Corp

* Western Energy Services Corp. announces concurrent debt and equity financings

* Western Energy Services Corp - ‍entered agreements with Alberta Investment Management providing $215 million second lien senior secured term loan facility​

* Western Energy Services Corp -also entered into ‍private placement of 9.1 million common shares of Western at a price of $1.25 per common share​

* Western Energy Services Corp - ‍additionally, co got commitments from certain lenders to effect amendments to its senior secured credit facilities​

* Western Energy Services Corp - upon closing of proposed amendments to credit facility, maturity date will be extended to December 2020

* Western Energy-expects net proceeds, with cash on hand,funds under credit facility, to be used to redeem outstanding 7(7/8)% senior unsecured notes​ Source text for Eikon: Further company coverage:

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