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 (OTC: PLSVF) announced results of its cash tender offer to purchase up to $17,607,991 of Senior Secured Notes due 2026. A total of $159,165,392 in notes were validly tendered, triggering pro rata acceptance at a proration rate of approximately 0.1106. The company will purchase $17.6 million principal (reducing outstanding notes from ~$215.5M to ~$197.9M) and will pay accrued interest through the purchase date, which will be no later than November 19, 2025. The purchases will be funded with net cash proceeds from the Archer Transaction.
Paratus Energy Services Ltd (OTC: PLSVF) ha annunciato i risultati della sua offerta di acquisto in contanti per l'acquisto di un massimo di $17,607,991 di Note garantite senior con scadenza nel 2026. Un totale di $159,165,392 di note è stato validamente presentato, attivando l'accettazione pro rata a un tasso di pro rata di circa 0.1106. La società acquisterà $17.6 milioni di capitale principale (riducendo le note in circolazione da circa $215.5M a circa $197.9M) e pagherà gli interessi maturati fino alla data di acquisto, che non sarà oltre 19 novembre 2025. Le acquisizioni saranno finanziate con i proventi netti della Archer Transaction.
Paratus Energy Services Ltd (OTC: PLSVF) anunció los resultados de su oferta de tender en efectivo para comprar hasta $17,607,991 de Notas Garantizadas Senior con vencimiento en 2026. Un total de $159,165,392 en notas fue válidamente tendered, activando la aceptación prorrata a una tasa de prorrata de aproximadamente 0.1106. La empresa comprará $17.6 millones de principal (reduciendo las notas en circulación de ~$215.5M a ~ $197.9M) y pagará intereses devengados hasta la fecha de compra, que será a más tardar el 19 de noviembre de 2025. Las compras serán financiadas con los ingresos netos de la Archer Transaction.
Paratus Energy Services Ltd (OTC: PLSVF)는 2026년 만기의 Senior Secured Notes를 최대 $17,607,991까지 현금 입찰로 매수하는 현금 입찰 결과를 발표했습니다. 총 $159,165,392의 채권이 유효하게 입찰되어 약 0.1106의 비례 수용률로 비례 매입이 발생합니다. 회사는 $17.6 백만의 원금(pincipal)을 매수하고, 남아 있는 채권을 약 215.5백만 달러에서 약 197.9백만 달러로 축소하며, 매수일까지 누적 이자를 지급하며, 이 날짜는 2025년 11월 19일을 넘지 않습니다. 매수는 Archer Transaction의 순현금 수익으로 자금 조달됩니다.
Paratus Energy Services Ltd (OTC: PLSVF) a annoncé les résultats de son offre de rachat en espèces visant à acheter jusqu'à $17,607,991 de notes garanties seniors arrivant à échéance en 2026. Un total de $159,165,392 de notes a été correctement apporté, déclenchant une acceptance au prorata à un taux de prorata d'environ 0.1106. La société achètera $17.6 millions de principal (réduisant les notes en circulation d'environ $215.5M à environ $197.9M) et paiera les intérêts courus jusqu'à la date d'achat, qui ne sera pas postérieure au 19 novembre 2025. Les achats seront financés avec les produits nets de la Archer Transaction.
Paratus Energy Services Ltd (OTC: PLSVF) gab Ergebnisse seines Barangebots bekannt, bis zu $17,607,991 an Senior Secured Notes mit Fälligkeit 2026 zu erwerben. Insgesamt wurden $159,165,392 an Noten rechtzeitig eingereicht, was zu einer anteiligen Annahme zu einer Vorkehrungsquote von ca. 0.1106 führte. Das Unternehmen wird $17.6 Millionen Nennwert (reduziert die ausstehenden Noten von ca. $215.5M auf ca. $197.9M) ankaufen und bis zum Kaufdatum aufgelaufene Zinsen zahlen, das spätestens der 19. November 2025 sein wird. Die Käufe werden mit Brutto-Cash-Erträgen aus der Archer Transaction finanziert.
Paratus Energy Services Ltd (OTC: PLSVF) أعلنت نتائج عرضها النقدي لشراء حتى $17,607,991 من سندات الدين Senior Secured المستحقة في 2026. تم تقديم عروض صالحة بقيمة إجمالية قدرها $159,165,392 من السندات، مما أدى إلى قبول نسبي بنحو 0.1106. ستقوم الشركة بشراء $17.6 مليون من القيمة الاسمية (خفضها من حوالي 215.5 مليون دولار إلى حوالي 197.9 مليون دولار في الإجمالي القائم) وستدفع الفوائد المتراكمة حتى تاريخ الشراء، الذي لن يتجاوز تاريخ 19 نوفمبر 2025. ستتم عمليات الشراء بتمويل من صافي العائدات النقدية من Archer Transaction.
- Reduces outstanding principal by $17.6M (~8.17% of $215.5M)
- Purchase funded with net cash proceeds from the Archer Transaction
- Tender oversubscribed: $159.17M tendered vs $17.61M cap
- Proration rate limited holders to ~11.06% acceptance
- Outstanding notes remain high at ~$197.9M after purchase
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.
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
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
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
Global Bondholder Services Corporation is the Tender and Information Agent for the Tender Offer. Any questions regarding procedures for tendering Notes or request for copies of the Offer Purchase should be directed to Global Bondholder Services Corporation by any of the following means: by telephone at 855-654-2014 (toll free) or 212-430-3774 (banks and brokers) or by email at contact@gbsc-usa.com.
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
Paratus Energy Services Ltd. (ticker: PLSV) is an investment holding company of a group of leading energy services companies. The Paratus Group is primarily comprised of its ownership of Fontis Energy and a 50/50 JV interest in Seagems. Fontis Energy is an offshore drilling company with a fleet of five high-specification jack-up rigs in
For further information about Paratus, please contact:
Baton Haxhimehmedi, CFO
baton.Haxhimehmedi@paratus-energy.com
+47 406 39 083
Forward-Looking Statements
This release includes forward-looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's and / or the Paratus Group's (including any member of the Paratus Group) plans, strategies, business prospects, changes and trends in its business and the markets in which it operates. These statements are based on management's current plans, expectations, assumptions and beliefs concerning future events impacting the Company and / or the Paratus Group and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Important factors that could cause actual results to differ materially from those in the forward-looking statements include management's reliance on third party professional advisors and operational partners and providers, the Company's ability (or inability) to control the operations and governance of certain joint ventures and investment vehicles, oil and energy services and solutions market conditions, subsea services market conditions, and offshore drilling market conditions, the cost and timing of capital projects, the performance of operating assets, delay in payment or disputes with customers, the ability to successfully employ operating assets, procure or have access to financing, ability to comply with loan covenants, liquidity and adequacy of cash flow from operations of its subsidiaries and investments, fluctuations in the international price of oil or alternative energy sources, international financial, commodity or currency market conditions, including, in each case, the impact of pandemics and related economic conditions, changes in governmental regulations, including in connection with pandemics, that affect the Paratus Group, increased competition in any of the industries in which the Paratus Group operates, the impact of global economic conditions and global health threats, including in connection with pandemics, our ability to maintain relationships with suppliers, customers, joint venture partners, professional advisors, operational partners and providers, employees and other third parties and our ability to maintain adequate financing to support our business plans, factors related to the offshore drilling, subsea services, and oil and energy services and solutions markets, the impact of global economic conditions, our liquidity and the adequacy of cash flows for our obligations, including the ability of the Company's subsidiaries and investment vehicles to pay dividends, political and other uncertainties, the concentration of our revenues in certain geographical jurisdictions, limitations on insurance coverage, our ability to attract and retain skilled personnel on commercially reasonable terms, the level of expected capital expenditures, our expected financing of such capital expenditures, and the timing and cost of completion of capital projects, fluctuations in interest rates or exchange rates and currency devaluations relating to foreign or
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.
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SOURCE Paratus Energy Services Ltd
FAQ
What did Paratus (PLSVF) announce on November 18, 2025 about its 2026 notes?
How many Paratus notes were tendered and what was the proration rate in the PLSVF offer?
How much principal will Paratus (PLSVF) purchase and what will remaining debt be?
When will Paratus complete the note purchases from the tender offer (PLSVF)?
How will Paratus fund the November 2025 tender offer purchases for PLSVF notes?
