#Bermuda #Hamilton #Paratus Energy #fixed income #Q1 2026

Paratus Energy Services Ltd. Updates on Financial Status and Future Plans

Paratus Energy Services Ltd., listed under OSLO: PLSV, has made significant strides in the financial market recently, announcing the commencement of fixed income investor meetings on May 4, 2026. These meetings are organized by a group of seasoned financial institutions, including Arctic Securities, DNB Carnegie, and Pareto Securities, who are acting as Joint Global Coordinators and Bookrunners. Along with ABG Sundal Collier and Fearnley Securities, these firms will facilitate discussions aimed at enhancing investor confidence and engagement.

The purpose of these meetings is critical, as they are expected to precede a proposed USD-denominated five-year senior secured bond issuance. Should market conditions allow, Paratus intends to use the net proceeds from this bond offering primarily to refinance its existing senior secured notes that are set to mature in July 2026. Additionally, the funds will support general corporate activities within the group, reflecting a robust strategy for managing financial obligations while supporting operational growth.

In conjunction with the investor meetings, Paratus is set to disclose preliminary and unaudited financial figures for the first quarter of 2026. These updates will include key performance indicators such as contract revenue, EBITDA, cash flow, and debt figures, providing investors with a comprehensive overview of the company's current state and future prospects. For Q1 2026, the anticipated financial highlights are as follows:
- Contract Revenue: Expected to reach USD 104 million, with contributions from Seagems and Fontis highlighting a diverse service portfolio.
- EBITDA: Forecasted at USD 56 million, indicating a potential for profitability despite some operational challenges reflected in negative EBITDA from specific segments.
- Cash Reserves: Projected at USD 156 million, showcasing a strong liquidity position essential for upcoming investments and operational stability.
- Total Debt: Estimated to stand at USD 778 million, with a net interest-bearing debt (NIBD) of USD 622 million, necessitating strategic financial management to optimize leverage.

In terms of backlog, the combined backlog from relevant operations is indicated at USD 616 million, emphasizing the ongoing demand for Paratus's services even as they navigate a competitive landscape. The financial results, particularly those from Seagems, will be consolidated using proportional accounting, reflecting Paratus's commitment to transparency and financial diligence.

The detailed first-quarter 2026 interim financial report is slated for release on May 29, 2026, providing a fuller picture of Paratus’s financial health and operational viability. Interested stakeholders can expect a thorough review of the company's progress and outlook, as well as any potential risks and opportunities that may arise from market developments.

About Paratus Energy Services Ltd.: Paratus is reputed for its robust investment strategies focused on energy services. The company holds significant stakes in Fontis Energy—an influential offshore drilling operation with five state-of-the-art jack-up rigs in Mexico—and Seagems, a preeminent subsea service provider renowned for its six multi-purpose pipe-laying support vessels stationed in Brazil. This strategic positioning underlines Paratus's intent to maintain a leading role in energy services while enhancing its financial footprint in the sector.

As part of the investment community, it is imperative for participants to remain informed about the progress and changes at Paratus Energy Services Ltd., particularly in light of the evolving financial landscape. The initiatives outlined signify Paratus's proactive approach in navigating financial challenges while setting a course toward sustained corporate growth and shareholder value.