Paratus Energy Services Ltd. – Call notice Senior Secured Bonds due 2029
Reference is made to the announcement by Paratus Energy Services Ltd. ("Paratus" or the “Company”) on 29 July 2026 regarding completion of the sale of Fontis. The Company has today notified Nordic Trustee AS of its decision to apply the net proceeds(1) from the sale of Fontis, amounting to USD 158,223,077, towards partial redemption of outstanding bonds under the senior secured bonds due 2029 (the "2029 Bonds") at a price equal to the make whole amount under the 2029 Bonds. The payment will be made pro rata to the bondholders under the 2029 Bonds. In connection with the payment, the nominal value of the bonds will be amended from USD 100,000 to USD 1.
In reaching its decision, the Company considered, among other factors, the cost of retaining the proceeds in escrow and the potential cost and availability of alternative sources of financing for potential future investment opportunities.
The partial redemption of outstanding bonds under the 2029 Bonds is expected to take place on or about 16 September 2026, at which date the make whole premium amount thereunder will equal USD 8,709,371. Please see details for the partial redemption in the attached notice from the bond trustee.
Following the completion of the partial redemption, the outstanding principal amount of the 2029 Bonds will be approximately USD 353.5 million.
Note (1): “Net proceeds” corresponds to the definition of “Net Disposal Proceeds” under the 2029 Bonds and represents the cash consideration received at completion of the Fontis sale, less certain transaction costs incurred in connection with the transaction.
For additional information, please contact:
Baton Haxhimehmedi, CFO and Interim CEO
[email protected]
+47 406 39 083
About Paratus
Paratus Energy Services Ltd. (ticker: PLSV) is an investment holding company with a 50% joint venture interest in Seagems. Seagems is a leading subsea services company that owns and operates a fleet of six multi-purpose pipe-laying support vessels, providing support, installation, flexible pipe-laying and construction services. All vessels are currently operating under contracts in Brazil.