Calfrac Well Services Ltd.

Priced an offering of $650 million aggregate principal amount of its 8.5% senior notes due 2026 at an issue price of 100% of the aggregate principal amount of the notes plus accrued interest from May 30, 2018. Calfrac Holdings intends to use a portion of the net proceeds from the offering of the notes to fund a tender offer to purchase for cash up to all of its outstanding 7.5% senior notes due 2020, with the balance to be used to partially fund the repayment in full of the remaining CA$196.5 million principal amount of Calfrac's second lien senior secured term loan facility.