Paratus Energy Services Ltd. Announces Results of Cash Tender Offer for up to $17,607,991 Senior Secured Notes due 2026
Paratus Energy Services Ltd. Announces Results of Cash Tender Offer for up to $17,607,991 Senior Secured Notes due 2026 |
| [18-November-2025] |
HAMILTON, Bermuda, Nov. 18, 2025 /PRNewswire/ -- Reference is made to the announcement made by Paratus Energy Services Ltd., (ticker "PLSV") ("Paratus" or the "Company") on October 15, 2025 regarding the Company's offer to purchase for cash up to an aggregate principal amount of $17,607,991 Senior Secured Notes due 2026 (CUSIPs 81173J AC3, G8000A AH6 and 81173J AD1; ISINs US81173JAC36, USG8000AAH61 and US81173JAD19) (the "Notes") (the "Purchase Cap") governed by that Amended and Restated Indenture, dated as of January 20, 2022 (as subsequently amended and supplemented, the "Indenture") at the repurchase price of 103% of the principal amount of such Notes (the "Tender Offer Consideration") (the "Tender Offer") (the "Announcements"). The Tender Offer is made upon the terms and subject to the conditions described in the Offer to Purchase, dated October 15, 2025 (as amended or supplemented from time to time, the "Offer to Purchase"), which sets forth a detailed description of the Tender Offer. As set out in the Offer to Purchase, withdrawal rights for the Notes tendered expired at 5:00 p.m. New York city time, on November 3, 2025. The Tender Offer expired at 5:00 p.m. New York city time, on November 14, 2025 (the "Expiration Time"). All conditions relating to the Tender Offer as set out in the Offer to Purchase were satisfied or waived by the Company at the Expiration Time. Further to the Announcements, the Company today announces the results and acceptance of Notes tendered pursuant to the Tender Offer on a prorated basis. As of the Expiration Time, according to information provided by Global Bondholder Services Corporation, the tender and information agent for the Tender Offer, a total of $159,165,392 in aggregate principal amount of Notes were validly tendered and not validly withdrawn in accordance with the Tender Offer. As the aggregate principal amount of the Notes validly tendered and not validly withdrawn on or prior to the Expiration Time exceeds the Purchase Cap, the Company accepts for purchase the Notes tendered on a prorated basis applying the proration rate of approximately 0.1106. Only holders of Notes who validly tendered and did not validly withdraw their Notes on or prior to the Expiration Time are eligible to receive the Tender Offer Consideration for Notes accepted for purchase. All holders of Notes accepted for purchase in the Tender Offer will receive accrued and unpaid interest on such Notes from the latest interest payment date with respect to such Notes to, but not including, the date of purchase. The date of purchase shall be no later than 19 November 2025. The Company intends to fund the purchase of validly tendered and accepted Notes with the net cash proceeds from the Archer Transaction announced on September 25, 2025. The current principal amount of the Notes is approximately $215.5 million. Following the purchase of $17.6 million in principal amount of the Notes pursuant to the Tender Offer, the remaining balance will be $197.9 million. This announcement constitutes the public announcement of the results of the Tender Offer as required by Section 4.10(i)(v) of the Indenture. Information relating to the Tender Offer Holders are advised to check with any bank, securities broker or other intermediary through which they hold the Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or revoke their instruction to participate in, the Tender Offer, before the deadline specified herein and in the Offer to Purchase. This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders with respect to, the Notes. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The Tender Offer is being made solely pursuant to the Offer to Purchase made available to holders of the Notes. None of the Company or its affiliates, their respective boards of directors, the dealer manager, the Tender and Information agent or the Trustee with respect to the Notes is making any recommendation as to whether or not holders should tender or refrain from tendering all or any portion of their Notes in response to the Tender Offer. Holders are urged to evaluate carefully all information in the Offer to Purchase, consult their own investment and tax advisors and make their own decisions whether to tender Notes in the Tender Offer, and, if so, the principal amount of Notes to tender. Defined terms used in this announcement which are not otherwise herein defined have the meaning set out in the Indenture. About Paratus For further information about Paratus, please contact: Forward-Looking Statements Neither the Company nor any member of the Paratus Group undertakes any obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factors on our businesses or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. This information was brought to you by Cision http://news.cision.com
SOURCE Paratus Energy Services Ltd | ||
Company Codes: Frankfurt:U6N,ISIN:BMG6904D1083,Oslo:PLSV,OTC-BB:PLSVF,OTC-PINK:PLSVF,Stuttgart:U6N |
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