CALGARY, June 13 /PRNewswire/ - CCS Corporation (f/k/a CCS Inc., the "Company") announced today that it intends to offer up to CN$675 million (equivalent) aggregate principal amount of notes consisting of two series in a private placement (the "Offering"). The Company expects to offer U.S. dollar denominated notes due 2019 (the "U.S. Dollar Notes") and Canadian dollar denominated notes due 2018 (the "Canadian Dollar Notes," and, together with the U.S. Dollar Notes, the "Notes"). The Company intends to use the net proceeds from the sale of the Notes to finance the repurchases (by a tender offer, redemption or private transaction, or any combination or all of the foregoing) of (i) the Company's US$312.0 million aggregate principal amount outstanding of 11.000% Senior Notes due 2015 (the "Senior Notes") and (ii) the Company's US$299.9 million aggregate principal amount outstanding of 11.000% Senior Subordinated Notes due 2015 (the "Subordinated Notes"), to satisfy and discharge any Senior Notes not repurchased pursuant to the terms of the concurrent tender offer for the Senior Notes and to pay for all or a portion of any related fees and expenses and, any remainder, 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 (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 offenders 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 CCS 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.
SOURCE CCS Corporation
