logo
Share SHARE
FONT-SIZE Plus   Neg

Parker Drilling Begins Tender Offer For 2.125% Convertible Senior Notes

Parker Drilling Company (PKD) said it has commenced an any and all cash tender offer for its $125.0 million aggregate principal amount outstanding of its 2.125% Convertible Senior Notes due 2012. The tender offer would expire at midnight, New York City time, on May 8, 2012, unless extended or earlier terminated by the company.

Holders of notes who validly tender, and do not validly withdraw, their notes on or prior to the Expiration Date would receive $1,003.27 for each $1,000 principal amount of notes purchased in the tender offer, plus accrued and unpaid interest to, but not including, the settlement date. Tenders of notes must be made on or prior to the Expiration Date, and tendered Notes may be withdrawn at any time on or prior to the Expiration Date.

The tender offer is subject to the satisfaction or waiver of certain conditions set forth in the Offer to Purchase, dated April 11, 2012, including the issuance of $125 million of senior notes on terms and conditions satisfactory to the company.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Lab equipment maker Thermo Fisher Scientific Inc. has agreed to acquire electron microscope maker FEI Co. for about $4.2 billion in cash, the two companies said Friday. Thermo Fisher noted that FEI's electron microscopy platform will complement its own mass spectrometry systems to accelerate advancements in structural biology. While reporting a wider loss for the first quarter, Sears Holdings Corp. said it has decided to "aggressively evaluate" all potential alternatives for its top brands - Kenmore, Craftsman and DieHard or KCD, and the Sears Home Services or SHS businesses. Sears has retained Citigroup Global Markets and LionTree Advisors to assist in its efforts. Philips Lighting, the splinter group of Dutch consumer electronics giant Philips, saw its shares rally around 8.50 percent on its debut on Friday at the Amsterdam stock exchange. The shares are currently at 21.70 euros, above its set pricing of 20 euros per share.
comments powered by Disqus
Follow RTT