Paratus Energy Services Ltd. has fully redeemed its Senior Secured Notes due 2026 using proceeds from a recent bond issue. Approximately USD 201 million from the USD 250 million new senior secured bonds issued in 2031 was used to settle the outstanding notes, including accrued and unpaid interest. The residual balance held in escrow has been released to the company.

The redemption follows the successful placement of the 2031 Bonds and a conditional redemption notification issued to note holders on May 7, 2026. The funds were released from escrow to complete the transaction, effectively retiring the company's debt obligations under the amended and restated indenture dated January 20, 2022.

Transaction Details

Paratus Energy Services Ltd. is an investment holding company for a group of energy services firms. Its portfolio includes Fontis Energy, an offshore drilling company with five high-specification jack-up rigs in Mexico, and a 50/50 joint venture interest in Seagems, a subsea services company with six multi-purpose pipe-laying support vessels in Brazil.