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 Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Nabors Posts Quarterly Loss as Drilling Activity Slows

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.

Crowley Ships Massive Electrical Equipment

Crowley Maritime Corporation’s liner services group recently transported two massive electrical equipment enclosures with a combined weight of 196,000 pounds to San Juan, Puerto Rico.

Maersk Drilling Secures Contract for Newest Drillship

Maersk Drilling was awarded a contract from eni Ghana Exploration and Production Ltd. for employment of the newbuild drillship Maersk Voyager.   The contract

Finance

Nabors Posts Quarterly Loss as Drilling Activity Slows

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.

Cheap Oil Threatens Debt Squeeze for Smaller North Sea Producers

Small and mid-sized independent oil producers in the British North Sea could face a financing squeeze this year as banks cut lending linked to the value of oil reserves,

Royal Caribbean to Sell Splendour of the Seas

Royal Caribbean Cruises Ltd. announced that it has entered into an agreement to sell its cruise ship Splendour of the Seas to TUI Cruises in the second quarter of 2016.

Wind Power

Spanish Boat Wins Leg of Ocean Race

Spanish boat Mapfre has claimed victory in the Auckland leg of the of the round-the-world Volvo Ocean Race from Sanya, China, to Auckland.   The Alicante-based

James Fisher Wind Farm Support Vessel Named

James Fisher Marine Services’s (JFMS) multipurpose wind farm support vessel, Dart Fisher, has been formally named by the vessel’s Godmother Maria McCaffery MBE,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2537 sec (4 req/sec)