Offshore supply vessels provider Hornbeck Offshore Services, Inc. (HOS) Thursday said the previously announced cash tender offer for its $250 million in aggregate principal amount of 8.000 percent senior notes due 2017 expired as scheduled on April 10.
Including the tendered 8.000 percent notes that the company had announced receiving on March 27, the firm accepted and made payment for $234,656,000 in aggregate principal amount of 8.000 percent notes validly tendered pursuant to the offer.
The company also announced that on May 13, it would redeem the entire balance of $15,344,000 in aggregate principal amount of 8.000 percent notes that remain outstanding at a redemption price to be calculated in accordance with the indenture governing the notes and as set forth in the Notice of Redemption.
The redemption will be funded with proceeds from the recent issuance of $450 million in aggregate principal amount of 5 percent senior notes due 2021.
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