Enerflex prices $400 million bond offering to refinance higher-rate debt

Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) announced that its subsidiary Enerflex Inc. has priced a private offering of $400 million in 6.875% senior notes due 2031. The notes will be issued at par and guaranteed by Enerflex and certain subsidiaries.

The offering is expected to close on December 11, 2025, subject to customary closing conditions. Net proceeds from the offering, combined with borrowings under the company's secured revolving credit facility, will be used to redeem Enerflex's outstanding 9.000% Senior Secured Notes due 2027.

Enerflex has issued a conditional notice to redeem the 2027 notes on December 11, 2025, at a redemption price of 102.25% of the principal amount plus accrued interest. The redemption is conditional upon completion of the new note offering.

The notes are being offered through a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act of 1933. The notes have not been registered under the Securities Act or applicable Canadian securities laws.

The refinancing will replace debt carrying a 9.000% interest rate with new debt at 6.875%, reducing Enerflex's borrowing costs. The transaction represents a debt refinancing rather than new borrowing, as the proceeds will be used to retire existing obligations.

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