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 Tenders of notes must be made on or prior to the Expiration Date, and tendered Notes may be withdrawn at any time on or prior to the Expiration Date.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
Teens and young adults now find Instagram and Snapchat more attractive than Facebook, a new study by eMarketer revealed. The report also suggested that for the first time, Snapchat might overtake Facebook in the U.S. by gaining a marketshare of 40.8 percent in social network. A new survey has shown that a majority of parents as well as teens agree that texting or use of cell phones are the biggest distraction to teen drivers. The survey also found that risky driving behavior seems to run in the family. The 2017 Family Safe Driving Report was released by EverQuote Inc., a venture-backed online insurance marketplace. Less than two months after its debut on the New York Stock Exchange, embattled meal-kit delivery company Blue Apron Holdings Inc. has been hit with multiple shareholder lawsuits for its "misleading" and "untrue" statements in its IPO prospectus. The various lawsuits mirror each other in their allegations against Blue Apron, its CEO, CFO, directors and the underwriters of its IPO.
comments powered by Disqus
Follow RTT