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 Tenders of notes must be made on or prior to the Expiration Date, and tendered Notes may be withdrawn at any time on or prior to the Expiration Date.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
Tech giant Apple Inc. has developed a new technology that will prohibit audiences using their iPhones to record concerts. The Cupertino, California-based company has secured a patent in the US for its new technology. The technology uses infrared signals to shut down cameras on audience members' smartphones. The... Snacks giant Mondelez International Inc. (MDLZ) made a takeover bid of $23 billion to acquire chocolate behemoth Hershey Co. (HSY) that would create the world's largest chocolate company. Nevertheless, shares of Hershey jumped over 15 percent after the company revealed that it has rejected the offer. "The... Mortgage rates dropped this week to the lowest level in more than three years hurt by the UK's shocking decision to exit European Union. Releasing the results of its primary mortgage market survey, Freddie Mac said that the 30-year fixed-rate mortgage or FRM averaged 3.48 percent for the week ended...
comments powered by Disqus
Follow RTT