Hornbeck Offshore Services (HOS) Announces Plans to Offer ~$350 Million in Senior Notes due 2020
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Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that it intends to offer, subject to market and other conditions, approximately $350,000,000 aggregate principal amount of senior notes due 2020 through an offering to qualified institutional buyers within the United States and to non-U.S. persons outside the United States.
The Company intends to use the net proceeds from the Senior Notes offering to fund the purchase price of its cash tender offer (the "Tender Offer") for any and all of its 6.125% senior notes due 2014 (the "2014 Notes"). To the extent less than all of the outstanding 2014 Notes are tendered or the Tender Offer is not consummated, the Company intends to use net proceeds from this offering to redeem or repurchase any of the 2014 Notes that remaining outstanding. The remaining net proceeds will be used for general corporate purposes, which may include retirement of other debt or funding for the acquisition, construction or retrofit of vessels.
The Company intends to use the net proceeds from the Senior Notes offering to fund the purchase price of its cash tender offer (the "Tender Offer") for any and all of its 6.125% senior notes due 2014 (the "2014 Notes"). To the extent less than all of the outstanding 2014 Notes are tendered or the Tender Offer is not consummated, the Company intends to use net proceeds from this offering to redeem or repurchase any of the 2014 Notes that remaining outstanding. The remaining net proceeds will be used for general corporate purposes, which may include retirement of other debt or funding for the acquisition, construction or retrofit of vessels.
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