Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Hornbeck Offshore Services, Inc.    HOS   US4405431069

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Hornbeck Offshore Services, Inc. : Hornbeck Offshore Announces Expiration of Cash Tender Offer for its 6.125% Senior Notes due 2014 and Initiation of Related Redemption

04/03/2012 | 06:05am US/Eastern
Recommend:
0

COVINGTON, La., April 3, 2012 /PRNewswire/ -- Hornbeck Offshore Services, Inc. (NYSE: HOS) (the "Company") announced today that the previously commenced cash tender offer (the "Offer") for any and all $300,000,000 aggregate principal amount of its 6.125% 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 that 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 today that, on April 30, 2012, it will redeem the entire balance of $47,795,000 in aggregate principal amount of 2004 Notes that 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% Senior Notes due 2020.

The Company is a leading 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.

Forward-Looking Statements
This news release contains forward-looking statements, including, in particular, statements about the Company's plans and intentions to redeem the 2004 Notes. These have been based on the Company's current assumptions, expectations and projections about future events. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that the expectations will prove to be correct.

    Contacts:                  Todd Hornbeck, CEO
                               Jim Harp, CFO
                               Hornbeck Offshore Services
                               985-727-6802

                                Ken Dennard, Managing
                                Partner
                               DRG&L / 713-529-6600

SOURCE Hornbeck Offshore Services, Inc.

Recommend :
0
React to this article
Latest news on HORNBECK OFFSHORE SERVICES
04/11 HORNBECK OFFSHORE SERVICES : Announces First Quarter 2014 Earnings Release And C..
02/25 HORNBECK OFFSHORE SERVICES, INC. : HORNBECK OFFSHORE SERVICES INC /LA FILES (8-K..
02/20 HORNBECK OFFSHORE SERVICES, INC. : HORNBECK OFFSHORE SERVICES INC /LA FILES (8-K..
02/19 HORNBECK OFFSHORE SERVICES, INC. : Hornbeck Offshore Announces Fourth Quarter 20..
01/23 HORNBECK OFFSHORE SERVICES, INC. : Hornbeck Offshore Announces Fourth Quarter 20..
2013 U.S. high court rejects oil spill contempt case
2013 Supreme Court rejects oil spill contempt case
2013 HORNBECK OFFSHORE SERVICES, INC. : HORNBECK OFFSHORE SERVICES INC /LA FILES (8-K..
2013 HORNBECK OFFSHORE SERVICES INC /LA FILES (8-K) Disclosing Other Events, Finan..
2013 HORNBECK OFFSHORE SERVICES, INC. : Hornbeck Offshore Completes Conversion and Re..
Dynamic quotes  
ON
| OFF