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Wednesday, January 17, 2018

Exchange Offer News

Sea Containers Extends Exchange Offer

Sea Containers Ltd. marine container lessor, passenger and freight transport operator, and leisure industry investor, has extended the exchange offer for its outstanding 9-1/2% Senior Notes due 2003 and 10-1/2% Senior Notes due 2003, which commenced on May 28, 2003, until 5:00 p.m., New York City time, on Friday, June 27, 2003. The date by which Notes may be tendered through the guaranteed delivery procedure described in the exchange offer materials will not be extended. Accordingly, certificates representing any Notes tendered pursuant to the guaranteed delivery procedure must be received by The Bank of New York, the exchange agent for the exchange offer, not later than 5:00 p.m., New York City time, on Monday, June 30, 2003. As of 10:00 a.m.

Trico Announces Extension of Exchange Offer and Consent Solicitation

HOUSTON, April 18, 2011 /PRNewswire/ -- Trico Shipping AS (the "Company"), a subsidiary of Trico Marine Services, Inc. (Pink Sheets: TRMAQ) ("Trico Marine"), announced today that it has extended the expiration date of its out-of-court exchange offer (the "Exchange Offer") to the holders ("Noteholders") of its 11 7/8% senior secured notes due 2014 (the "Notes") and the solicitation of consents to the governing indenture (the "Consent Solicitation") to 5:00 p.m. Eastern Time on April 20, 2011. Withdrawal rights under the Exchange Offer will not be extended by the new expiration date.

Finland Steel Firms Deal Flagged by Helsinki Bourse

Track to steel mill: Photo Wiki CCL

"If the exchange offer for all the shares in Rautaruukki announced by SSAB on 22,January 2014 is completed, the ownership of SSAB in Rautaruukki would, upon the completion of the settlement trades of the shares tendered into the exchange offer by 5, May 2014 (including the acceptance of the exchange offer by Rautaruukki's largest shareholder Solidium Oy, in accordance with the undertaking provided in advance by Solidium Oy) exceed 50 percent of all the shares and voting rights in Rautaruukki.

Nordic American Offshore: Results of Exchange Offer

Nordic American Offshore Ltd. (NAO) have announced the expiration and results of its offer to exchange unregistered common shares that it issued in its prior equity private placement in November 2013. As of 5:00 p.m. New York City time (11:00 p.m. Oslo Time) on Thursday, July 17, 2014, at which time the Exchange Offer expired, there have been 11,478,478 Original Shares validly tendered, and not withdrawn, which represents approximately 93.5% of the Original Shares eligible to participate in the Exchange Offer. Holders of the remaining OTC shares will be contacted shortly in order to arrange for the exchange. The Original Shares have been traded on the OTC in Oslo since November 2013.

Hornbeck Offshore to Commence Exchange Offer

Hornbeck Offshore Services, Inc. announced the commencement, on Friday, March 3, 2006, of its offer to exchange any and all of the $75,000,000 aggregate principal amount of its outstanding 6.125% Series A Senior Notes due 2014 (CUSIPs 440543 AC 0 and U44070 AB 3) (collectively, the "Old Notes"), which were sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933 (the "Act") for an equal aggregate principal amount of its 6.125% Series B Senior Notes due 2014 (CUSIP 440543 AB 2) (the "New Notes"). The issuance of the New Notes has been registered under the Act. Hornbeck Offshore will accept for exchange any and all Old Notes validly tendered and not validly withdrawn before the expiration time of 5:00 p.m.…

Trico Marine Completes Exchange Offer

Trico Marine Services, Inc. announced that as of 5:00 p.m., New York City time on September 26, 2002, its offer to exchange up to $250 million principal amount of its registered 8 7/8% Senior Notes due 2012 for any and all outstanding unregistered 8 7/8% Senior Notes due 2012 expired and that all of its unregistered 8 7/8% Senior Notes due 2012 were tendered in the exchange offer and accepted

Euronav NV IPO in the US

EURONAV NV

Euronav NV announced today the upsizing and pricing of its initial public offering in the United States. The size of the offering has been increased from the initially announced 13,550,000 ordinary shares to 16,260,000 ordinary shares at an issue price per share of USD 12.25 for gross base proceeds of USD 199,185,000. The Company has granted the underwriters a 30-day option to purchase up to an additional 2,439,000 ordinary shares. The Company’s ordinary shares offered in the…

ACL Outlines Restructure Plan

American Commercial Lines LLC (ACL) announced that on April 15, 2002 it commenced an offer to the holders of its outstanding senior notes to exchange new 11-1/4% cash pay senior notes due January 1, 2008 and new 12% pay-in-kind senior subordinated notes due July 1, 2008 for its outstanding 10-1/4% senior notes due June 30, 2008. In connection with the exchange offer, ACL is also soliciting its noteholders to (1) become party to, and a beneficiary of, a mutual release, (2) consent to amendments to the indenture for its outstanding 10-1/4% senior notes and (3) accept a plan of reorganization. The exchange offer and solicitations are part of a previously announced recapitalization and restructuring of ACL. The recapitalization is expected to close in the second quarter of 2002.

Sea Containers Sells Isle of Man Steam Packet

Sea Containers has sold the Isle of Man Steam Packet Company to Montagu Private Equity Limited for $233 million, with effect on June 30, 2003. The profit on this transaction will be $100 million, however, the company has decided to establish provisions for the restructuring of its fast ferry business and to reduce the carrying value of certain assets to current market value. Total provisions will be approx. $40 million. The company also advised that its exchange offer of 13% senior notes due 2006 for July 1, 2003 matured 9.5% and 10.5% senior notes had been subscribed in the amount of $22.5 million. The balance of these senior notes ($136.6 million) has been repaid.

Horizon Lines Modifies Agreement with Note holders

Commitments Secured to Move Forward with Refinancing; Consummation of Transaction Expected by the End of September. Horizon Lines, Inc. announced that it has entered into a definitive agreement and secured commitments from holders of more than 99% of its 4.25% convertible senior notes due in 2012 to move forward with a modified transaction that will refinance the company's entire capital structure. As part of the refinancing, the company has launched an exchange offer today for the $330.0 million of existing unsecured 4.25% convertible senior notes. Consummation of the refinancing is expected to occur by the end of September, following completion of the exchange offer.

Ultrapetrol Completes 100% of Mortgage Note Exchange

Image courtesy of Ultrapetrol

The company informs that the notes were issued for an equal principal amount of 8 7/8% First Preferred Ship Mortgage Notes due 2021, that are registered under the Securities Act of 1933, as amended and expired on January 24, 2014 at 5 p.m. Ultrapetrol add that as of the Expiration Time, holders of $25.0 million aggregate principal amount of the Notes have participated in the Exchange Offer, representing 100% percent of the Notes eligible for exchange. under a registration rights agreement entered into by and among the Company and the initial purchasers of the outstanding notes.

Hornbeck Offshore Exchange Offer

Hornbeck Offshore Services, Inc. (NYSE: HOS) announced the commencement, on Monday, January 25, 2010, of its offer to exchange any and all of the $250m aggregate principal amount of its outstanding 8% Series A Senior Notes due 2017 (CUSIPs 440543 AF 3 and U44070 AC 1), which were issued in a private placement and sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933, for an equal aggregate principal amount of its 8% Series B Senior Notes due 2017 (CUSIP 440543 AH 9). The issuance of the New Notes has been registered under the Act. The form and terms of the New Notes are substantially the same as the form and terms of the Old Notes issued in August 2009.

Northrop Grumman Extends NNS Offer

Northrop Grumman Corporation announced that it has extended its pending exchange offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc. from Aug. 30, 2001, to Sept. 13, 2001, at midnight E.D.T.

Northrop Gruman Extends Offer

Northrop Grumman Corporation announced that it has extended its pending exchange offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc. (NYSE: NNS) from Sept. 27, 2001, to Oct. 4, 2001, at midnight E.D.T.

Northrop Grumman Extends Offer

Northrop Grumman Corporation announced that it has extended its pending exchange offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc. (NYSE: NNS) from Oct. 4, 2001, to Oct. 11, 2001, at midnight E.D.T. Approximately 6,948,883 shares of Newport News Shipbuilding common stock had been tendered to Northrop Grumman as of 5:00 p.m. E.D.T. on Oct. 4, 2001, including approximately 5,246,621 shares tendered pursuant to notices of guaranteed delivery.

Northrop Grumman To Comply With DOJ's Information Request

Defense contractor Northrop Grumman Corp. said on Tuesday that it will comply with a request from the Department of Justice for additional information on its proposed takeover of warship-builder Newport News. The company said the Department of Justice made the request on Monday under antitrust regulations. Northrop Grumman last month commenced an exchange offer for each of Newport's outstanding common shares for $67.50 in cash or stock. Earlier this month, Newport News board had voted in favor of a $2.1 billion takeover bid from rival General Dynamics.

Northrop Grumman, Newport News Shipbuilding Announce Definitive Merger Agreement

Northrop Grumman Corporation and Newport News Shipbuilding Inc. announced today that they have signed a definitive agreement under which Northrop Grumman will acquire Newport News Shipbuilding. The boards of directors of both companies approved the terms of the transaction in which Northrop Grumman will acquire all the outstanding shares of Newport News. $67.50, subject to certain limitations and proration procedures. Northrop Grumman expects to promptly amend its existing offer documents in order to reflect the merger agreement. Shipbuilding shareholders will have the same right to elect to receive cash or shares of Northrop Grumman stock as described above. Kent Kresa, Northrop Grumman chairman and chief executive officer.

Hornbeck Offshore Completes Exchange Offer of 6.125% Senior Notes

Hornbeck Offshore Services, Inc. (NYSE: HOS) has completed its offer to exchange $225,000,000 aggregate principal amount of its outstanding 6.125% Series A Senior Notes due 2014 (CUSIPs 440543 AA 4 and U44070 AA 5) (collectively, the "Old Notes"), which were sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933 (the "Act") for an equal aggregate principal amount of its 6.125% Series B Senior Notes due 2014 (CUSIP 440543 AB 2) (the "New Notes"). The issuance of the New Notes was registered under the Act. At the scheduled expiration time of 5:00 p.m., New York City time on March 7, 2005, $225,000,000 aggregate principal amount, or 100%, of the Old Notes were tendered and accepted for exchange by Hornbeck Offshore for New Notes.

Horizon Lines Completes Comprehensive Refinancing

New Capital Structure Provides Opportunity for Significant Deleveraging. Horizon Lines, Inc. (NYSE: HRZ) today announced that it has completed a comprehensive refinancing of the company's entire capital structure. The new capital structure addresses the company's financial needs by providing adequate liquidity to fund continuing operations and the ability to achieve substantial additional debt reduction. "We now have a new capital structure that eliminates the refinancing uncertainty faced by our company over the past several months and better positions us for the future," said Stephen H. Fraser, President and Chief Executive Officer.

Horizon Lines Reaches Agreement for Refinance

Horizon Lines, Inc. (NYSE: HRZ) today announced that it and holders of the majority of its 4.25% convertible senior notes have entered into agreements for a transaction that will refinance the company's entire capital structure. The agreement with the note holders contemplates a complete refinancing, in conjunction with a new asset-based revolving loan facility (ABL) of up to $125 million, which is under negotiation with a leading financial institution. The company's current debt structure consists of a $225 million senior secured revolving credit facility…

Northrop Grumman Extends NNS Tender Offer

U.S. defense contractor Northrop Grumman Corp. on Thursday said it has extended its tender offer for the outstanding shares of Newport News Shipbuilding, after the Justice Department requested additional information about the takeover. Los Angeles-based Northrop said it extended its tender offer for Newport News, to July 5 at midnight EDT from the previous June 20 deadline. About 861,000 shares of Newport News common stock had been tendered as of midnight June 20, Northrop said. The company started its exchange offer in May for each of Newport's outstanding shares for $67.50 in cash or stock, moving forward with the hostile bid despite Newport's planned merger with rival General Dynamics Corp.

Hornbeck Offshore Exchange Offer

Hornbeck Offshore Services, Inc. (NYSE:HOS) announced that it has successfully completed its offer to exchange $250m aggregate principal amount of its outstanding 8% Series A Senior Notes due 2017 (CUSIPs440543 AF 3 and U44070 AC 1), which were issued in a private placement and sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933, for an equal aggregate principal amount of its 8% Series B Senior Notes due 2017 (CUSIP 440543 AH 9). The issuance of the New Notes was registered under the Act. At the scheduled expiration time of 5:00 p.m., New York City time on February 23, 2010, $250m of aggregate principal amount, or 100%, of the Old Notes were tendered and accepted for exchange for New Notes by Hornbeck Offshore.

Northrop Grumman Extends NNS Offer

Northrop Grumman Corporation has extended its pending exchange offer for all outstanding shares of common stock, including associated rights, of Newport News Shipbuilding Inc. from Aug. 2, 2001, to Aug. 16, 2001, at midnight E.D.T. Approximately 1,818,000 shares of Newport News Shipbuilding common stock had been tendered to Northrop Grumman as of 5:00 p.m. E.D.T. on Aug. 2, 2001, including approximately 648,000 shares tendered pursuant to notices of guaranteed delivery. Northrop Grumman Corporation is a $15 billion, global aerospace and defense company with its worldwide headquarters in Los Angeles.

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