Paratus Energy Services Ltd - Fixed Income Meetings

BY PR Newswire | CORPORATE | 05/29/24 12:29 AM EDT

HAMILTON, Bermuda, May 29, 2024 /PRNewswire/ -- Paratus Energy Services Ltd (the "Company" or "Paratus") has mandated Arctic Securities, DNB Markets and Pareto Securities as Global Coordinators and Joint Bookrunners, as well as ABG Sundal Collier and Fearnley Securities as Joint Bookrunners to arrange a series of fixed income investor meetings.

A 5-year senior secured bond issue (the "Bonds") may follow, subject to, inter alia market conditions. Net proceeds from the Bonds will be employed towards a partial refinancing of Paratus' existing senior secured notes maturing in July 2026.

Ducera Partners LLC is serving as financial advisor and Schj?dt is serving as legal advisor to Paratus.

About Paratus

Paratus Energy Services Ltd. is an investment holding company of a group of leading energy services companies. The Paratus Group is primarily comprised of its ownership of Fontis Energy and a 50/50 JV interest in Seabras. Fontis Energy is an offshore drilling company with a fleet of five high-specification jack-up rigs working under contracts in Mexico. Seabras is a leading subsea services company, with a fleet of six multi-purpose pipe-laying support vessels under contracts in Brazil. In addition, Paratus is the largest shareholder in Archer Ltd, a global oil services company, listed on the Oslo Stock Exchange. For further information visit www.paratus-energy.com

CONTACT:
paratus@hawthornadvisors.com?

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SOURCE Paratus Energy Services Ltd

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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