NORTH AMERICAN ENERGY PARTNERS CLOSES $225
MILLION SENIOR UNSECURED DEBENTURE OFFERING
Calgary, Alberta, April 7, 2010 - North American Energy Partners Inc. (“NAEP” or the “Company”)
(TSX/NYSE: NOA) today announced the closing of its previously announced private placement of 9.125%
series 1 senior unsecured debentures due 2017 with an aggregate principal amount of C$225 million (the
The Debentures will bear interest at 9.125% per annum, payable semi-annually in arrears on April 7 and October
7 and will be guaranteed by its subsidiaries. The Company intends to use the issuance proceeds of $219.4
million, net of underwriting fees, combined with borrowings under its credit facility and cash on hand, to redeem
all US$200 million principal amount outstanding of its 8¾% senior notes due December 2011 and liquidate all of
the related secured currency and interest rate swaps.
NAEP has issued a notice of redemption for the 8¾% senior notes to the trustee, Wells Fargo Bank, N.A., who
has notified noteholders of the redemption details. The 8¾% senior notes will be redeemed on April 28, 2010 at
par plus accrued and unpaid interest to the redemption date. Prior to the redemption date, the Company may
purchase notes in the open market or by private contract.
The Debentures have not been and will not be registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the United
States or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and
applicable state securities laws or pursuant to an exemption therefrom.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any security and shall
not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be
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