Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Instagram Outage Disrupts Thousands of U.S. Users 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
TORONTO, April 05, 2016 -- In order to improve the Company’s ability to handle the risks and opportunities posed by the current market environment and to facilitate future continuing compliance with debt covenants, the Company is announcing today that it has utilized a portion of its existing cash balances to repurchase US$75 million of its Senior Notes at a purchase price of US$75.75 million plus accrued interest.
After today’s repurchase of Senior Notes, the Company continues to hold approximately C$182 million in cash and cash equivalents and has US$275 million in Senior Notes outstanding, as follows:
i) US$82 million of 2.98% Senior Notes, Series A, due March 31, 2020;
ii) US$79 million of 3.67% Senior Notes, Series B, due March 31, 2023;
iii) US$76 million of 3.82% Senior Notes, Series C, due March 31, 2025; and
iv) US$38 million of 4.07% Senior Notes, Series D, due March 31, 2028.
Shawcor (TSX:SCL) is a global energy services company specializing in products and services for the pipeline and pipe services segment of the oil and gas industry and related products for petrochemical and industrial markets. The Company operates through a global network of fixed and mobile manufacturing and service facilities and is valued for its integrity, technology and proven capability to execute the most complex projects in our industry.
This news release contains forward-looking information within the meaning of applicable securities laws. This forward looking information is based on assumptions, estimates, and analysis made in the light of the Company’s experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed, or implied by the forward-looking information. The forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.
For further information, please contact: Shawcor Ltd. Gary Love Vice President, Finance & CFO Tel: 416-744-5818 Email: [email protected] Website: www.shawcor.com
