Hornbeck Offshore Announces Expiration of Cash Tender Offer

Press Release
Tuesday, April 03, 2012

Hornbeck Offshore Services Inc. announced today that the previous cash tender offer (the "Offer") for any and all $300,000,000 aggregate principal amount of its 6.125 percent Senior Notes, due 2014 (CUSIP 440543 AB 2), (the "2004 Notes"), expired as scheduled at 11:59 p.m. Eastern time on March 29, 2012 (the "Expiration Time").  Including the tendered 2004 Notes the Company had announced receiving on March 15, 2012, the Company accepted and made payment for $252,205,000 in aggregate principal amount of 2004 Notes validly tendered pursuant to the Offer.

The Company also announced that, on April 30, 2012, it will redeem the entire balance of $47,795,000 in aggregate principal amount of 2004 Notes which remain outstanding at a redemption price to be calculated in accordance with the indenture governing the 2004 Notes (the "Indenture") and as set forth in the Notice of Redemption. The Company delivered copies of the Notice of Redemption to the Depository Trust Company, as record holder for the 2004 Notes, on March 30, 2012.  The redemption will be funded with proceeds raised in the Company's recent issuance of $375 million in aggregate principal amount of 5.875 percent Senior Notes, due 2020.

The Company is a provider of technologically advanced, new generation offshore supply vessels in the U.S. Gulf of Mexico and Latin America, and is a leading short-haul transporter of petroleum products through its coastwise fleet of ocean-going tugs and tank barges in the northeastern U.S. and the U.S. Gulf of Mexico. The Company currently owns a fleet of 80 vessels, primarily serving the energy industry.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Allcargo Groups Subsidiaries as ECU Worldwide

ECU Line, Econocaribe and China Consolidators undergoes rebranding to build a Global Brand Connect   India’s integrated logistics solution provider Allcargo Logistics

Damen Opens US Office

Damen Shipyards Group has announced the opening of a new branch office in Houston, Texas. This expansion, under the name of Damen North America, meets the increasing

French PM: Aussie Subs to be built in Australia

French Prime Minister Manuel Valls said on Monday he was committed to building all of a new Australian submarine fleet in Australia, apparently contradicting the

Finance

Partners Tap Standardization to Trim Newbuild Costs

Unfamiliar specifications and processes often result in rework, delays and misunderstandings, and are adding thousands of engineering hours to the design and construction

French PM: Aussie Subs to be built in Australia

French Prime Minister Manuel Valls said on Monday he was committed to building all of a new Australian submarine fleet in Australia, apparently contradicting the

Asia-N.Europe Box Rates Jump 170 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 170 percent to $732 per 20-foot container (TEU) in the week ended on Friday,

Wind Power

Ulstein Verft's First Wind Service Vessel Launched

Shipbuilder Ulstein Verft has launched its first vessel within the renewable energy segment, and also the first with the newly-developed X-STERN hull line design.

Statoil Buys Half Arkona Offshore Wind Farm Stakes

Statoil today enters the German offshore wind market, through a 50% acquisition of the Arkona offshore wind farm. Statoil and E.ON also announced the final investment

Atlantic Pioneer Gets to Work at Block Island

The first US-built and operated offshore wind farm crew transfer vessel will be named at an official christening ceremony in Quonset Point, Rhode Island. Following

 
 
Maritime Security Naval Architecture Navigation Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1071 sec (9 req/sec)