Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Parker Drilling Begins Tender Offer For 2.125% Convertible Senior Notes

RELATED NEWS
Trade PKD now with 

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 Tenders of notes must be made on or prior to the Expiration Date, and tendered Notes may be withdrawn at any time on or prior to the Expiration Date.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.

Click here to receive FREE breaking news email alerts for PARKER DRILLING CO and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After trending higher over the past several sessions, stocks showed a lack of direction throughout the trading day on Friday before closing roughly flat. A muted reaction to a highly anticipated speech by Federal Reserve Chair Janet Yellen contributed to the lackluster performance. Republican Scott Brown has significantly narrowed the gap in the race against incumbent New Hampshire Sen. Jeanne Shaheen, D-N.H., according to the results of a new WMUR Granite State Poll. On the heels of the violent clashes between local police and protestors in Ferguson, Missouri, Sen. Claire McCaskill, D-Mo., announced that she will hold a Senate hearing in September to examine the militarization of local police departments.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.