Paratus Energy Services Ltd. Concludes Successful Cash Tender Offer for Senior Secured Notes

On November 18, 2025, Paratus Energy Services Ltd., listed under the ticker symbol PLSV, officially announced the results of its cash tender offer targeting up to $17,607,991 in senior secured notes set to mature in 2026. This initiative, first discussed in their announcement on October 15, showcased the company's strategic efforts to optimize its financial standing in the energy sector.

Overview of the Tender Offer

The company presented a purchase cap for the senior secured notes governed by an amended and restated indenture dated January 20, 2022. Interested holders of the notes were informed that the repurchase price would amount to 103% of the principal value, representing a lucrative option for bondholders looking to liquidate their investments early. The tender offer was officially detailed in the Offer to Purchase, published on the same date as the initial announcement.

Notably, the withdrawal rights for the participating notes concluded on November 3, 2025. With the expiration of the tender offer at 5:00 PM New York City time on November 14, all conditions stated in the offer were either satisfied or waived by the company.

According to Global Bondholder Services Corporation, which acted as the tender and information agent for the offer, a staggering $159,165,392 worth of notes were validly tendered prior to the expiration, indicating a robust interest in the offer. Given that this exceeded the purchase cap, Paratus proceeded to accept the tendered notes on a prorated basis utilizing a proration rate of approximately 0.1106.

Implications for Bondholders

Holders of the notes who adhered to the tendering process and did not withdraw their submissions are set to receive the tender offer consideration for the accepted amounts. Furthermore, these bondholders will also accrue unpaid interest from the last payment date to the date of repurchase, which is slated for no later than November 19, 2025.

The funding for the repurchase is anticipated to derive from the net proceeds associated with the Archer Transaction, which was previously announced on September 25, 2025. Following the completion of this tender offer, the remaining principal worth of the notes is projected to be $197.9 million, allowing the company to maintain its capital structure while providing liquidity to its investors.

Continuing Developments

The successful conclusion of this tender offer reaffirms Paratus Energy Services Ltd.'s commitment to enhancing shareholder value and maintaining healthy financial dynamics within the competitive landscape of energy services. As the company navigates the complexities of the offshore drilling and subsea services markets, stakeholders and investors are encouraged to remain informed regarding Paratus's strategic advancements and market positioning.

For further inquiries regarding this tender offer and the specific processes involved, interested parties can connect with Global Bondholder Services Corporation directly at their provided contact channels. As always, holders are advised to consult with their financial advisors to evaluate participation in future financial instruments, tailored to their unique investment strategies.

About Paratus Energy Services Ltd.

Paratus Energy Services Ltd. operates primarily as an investment holding entity within the energy services industry. It comprises notable subsidiaries such as Fontis Energy, specializing in offshore drilling with a fleet of advanced jack-up rigs, and Seagems, recognized for its subsea services with diverse operational capabilities. As a whole, the Paratus Group is positioned to leverage market opportunities and reinforce its contribution to the global energy sector.

This announcement serves as a public report of the tender offer results, mandated by Section 4.10(i)(v) of the indenture governing these notes, and continues to reflect the strategic framework within which Paratus Energy Services Ltd. is poised to operate moving forward.