#Senior Secured Notes #Luxembourg #consent solicitation #Constellation Oil

Constellation Oil Services Holding S.A. Reports Successful Consent Solicitation Outcomes

Overview

On March 3, 2026, Constellation Oil Services Holding S.A. officially announced the fruitful results of its consent solicitation. The initiative, aimed at addressing its 9.375% Senior Secured Notes scheduled to mature in 2029, has been executed under stringent legal and regulatory frameworks. The company, based in Luxembourg, communicated these developments through Kroll Issuer Services, emphasizing the significance of this step in their operational strategy.

Details of the Consent Solicitation

The consent solicitation process was designed to gather approvals from noteholders to amend the existing indenture connected to its Senior Secured Notes. This amendment is crucial as it prepares the way for certain anticipated dividend payments. Notably, the solicitation became part of a broader strategy intended to bolster the company's financial standing while remaining compliant with necessary laws and regulations.

The solicitation underwent a defined timeframe and was executed in accordance with established procedures. The completion of the consent solicitation was marked by the delivery of valid consents from a majority of noteholders, who acted before the specified revocation deadline, solidifying the outcome of the solicitation process.

Financial Implications

As a result of this successful solicitation, Constellation Oil will compensate noteholders with a cash incentive—specifically, a payment of $5.00 for every $1,000 principal amount of notes involved in the consent. This payment will be processed on the designated settlement date, following the successful execution of a second supplemental indenture, which finalizes the proposed amendment to the indenture.

The company has assured all stakeholders that this second supplemental indenture will be effective immediately upon execution, thereby impacting all holders of the notes regardless of their individual consent status. This ensures that all noteholders are treated equitably under the revised terms.

The Role of Major Stakeholders

Clarksons Securities AS played a key role as the solicitation agent throughout the process, providing essential guidance and support to the Issuer. Moreover, Kroll acted as the information and tabulation agent, managing the consent solicitation process to ensure clarity and efficiency.

Potential participants in this process, including existing and prospective investors, have been encouraged to reach out to the contact points provided by both agencies for inquiries related to the solicitation or the upcoming changes to the indenture.

Looking Ahead

The implications of this successful solicitation extend beyond immediate financial transactions; they symbolize Constellation Oil’s strategic maneuvering within the competitive oil services sector. As the market continues to adapt, the company’s proactive measures are anticipated to reinforce its position, allowing for future growth and stability.

This announcement is coupled with a reminder that while this press release is informational in nature, it is not an offer to buy or sell securities. The company is also clear in its commitment to comply with applicable securities regulations in every jurisdiction where its notes are held.

In conclusion, Constellation Oil Services Holding S.A.’s recent accomplishments in its consent solicitation mark a significant milestone in enhancing its financial architecture and securing a robust outlook as it navigates the dynamic landscape of the oil service industry. Investors and noteholders alike can expect further updates as the settlement date approaches and additional developments unfold.