#Senior Secured Notes #Bermuda #Hamilton #Paratus Energy #Bond Placement

Paratus Energy Services Ltd. Announces Full Redemption of Senior Secured Notes Due 2026

In a significant announcement that has captured the interest of investors and stakeholders alike, Paratus Energy Services Ltd. (referred to as "Paratus" or "the Company") issued a notice concerning the complete redemption of its Senior Secured Notes, which are scheduled to mature in 2026. The occasion represents a pivotal moment for the energy services company, especially following its recent successful financial maneuvers.

Details of the Notice

On May 7, 2026, Paratus confirmed to all holders of its Senior Secured Notes due 2026 that it intends to redeem these notes in full. The Senior Secured Notes, identified by CUSIPs 81173J AC3, G8000A AH6, and 81173J AD1, along with ISINs US81173JAC36, USG8000AAH61, and US81173JAD19, are governed under an Amended and Restated Indenture executed on January 20, 2022. This initiative to redeem the notes follows the Company's successful completion of a private placement that raised USD 250 million, thereby further solidifying its financial standing and growth trajectory.

Next Steps

The redemption process will involve the full repayment of the principal amount outstanding, which totals approximately USD 197.87 million. The scheduled date for this redemption is set for June 8, 2026. However, the Company has issued a caveat: the redemption may be delayed or rescinded should certain conditions outlined in the Redemption Notice not be met by the specified date. This measure ensures that all necessary prerequisites are satisfactorily fulfilled before the final execution of the redemption.

Conditions Precedent

Stakeholders holding the Redeemed Notes are encouraged to refer to the Redemption Notice, where detailed information regarding the redemption process is elaborated. Should the stipulated conditions not be met, such as the agreement on disbursement terms with subscribers of the newly issued bonds, the Company retains the right to postpone the redemption.

Implications for Noteholders

For noteholders, this announcement signifies an important opportunity to recoup their investments. However, they should also take note that any transfers of the Redeemed Notes will be restricted until the date of redemption, which aims to stabilize the transaction process during this period of transition.

About Paratus Energy Services Ltd.

Paratus Energy Services Ltd. is an investment holding company that oversees a robust portfolio of leading energy services enterprises. Among its key assets is Fontis Energy, a company specializing in offshore drilling, boasting five state-of-the-art jack-up rigs in Mexico. Additionally, Paratus holds a 50/50 joint venture interest in Seagems, which offers unparalleled subsea services supported by six multi-purpose pipe-laying vessels operating in Brazil. This diverse operational base positions the Company well within the energy sector, allowing for sustainable growth and expansion opportunities.

This redemption initiative marks a refined financial strategy for Paratus, enabling it to streamline its obligations towards noteholders and prepare for future investments aimed at enhancing its market presence. As the Company continues to develop its operational capabilities and bolster its financial health, investors will undoubtedly be keeping a keen eye on forthcoming developments.

For those seeking additional information, the Company invites inquiries directed to Baton Haxhimehmedi, the CFO and Interim CEO, who is available at [email protected] or by phone at +47 4063 9083.

As Paratus navigates this redemption process, its stakeholders eagerly await the successful execution of the planned activities while keeping an eye on future opportunities in the dynamic energy sector.