logo
Share SHARE
FONT-SIZE Plus   Neg

Parker Drilling Begins Tender Offer For 2.125% Convertible Senior Notes

Parker Drilling Company (PKD: Quote) 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 Tenders of notes must be made on or prior to the Expiration Date, and tendered Notes may be withdrawn at any time on or prior to the Expiration Date.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
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
RELATED NEWS
Trade PKD now with 
Follow RTT