09:44 AM EST - Precision Drilling Corporation : Provided a series of positive announcements including: 1) 2024 debt repayment and year end liquidity update; 2) capital allocation framework update. 2024 Debt Repayment and Year End Liquidity Update. Precision reduced debt by $176 million in 2024, achieving the mid-point of its debt reduction target range. As at December 31, 2024, Precision’s outstanding debt obligations included:
• US$160 million – 7.125% unsecured senior notes due January 15, 2026
• US$400 million – 6.875% unsecured senior notes due January 15, 2029
• US$12 million drawn on the Senior Credit Facility
The Company ended 2024 with a cash balance of approximately $74 million, compared to $54 million at year end 2023, and total available liquidity of approximately $575 million. Precision Drilling Corporation
shares T.PD are trading $1.44 at $92.25.
