Paratus Energy Services Completes Full Redemption of Senior Secured Bonds

Hamilton, Bermuda – Paratus Energy Services Ltd. (OSLO: PLSV) has announced a triumphant financial maneuver with the full redemption of its Senior Secured Notes set to mature in 2026. This noteworthy event comes on the heels of two significant announcements made earlier in May 2026 regarding the successful placement of a new USD 250 million senior secured bond issue, designated as the 2031 Bonds.

In these earlier announcements, Paratus detailed the initiation of this bond placement and the subsequent conditional redemption notifications to note holders under the amended indenture from January 2022. According to the latest updates, approximately USD 201 million of the proceeds from the 2031 Bond Issue have now been allocated towards fully redeeming the existing notes, thereby relieving the company of this financial obligation. The remaining balance from the escrow account will be released back to the company for future use.

The CFO and Interim CEO of Paratus, Baton Haxhimehmedi, stated that this move illustrates the company’s dedication to maintaining a robust financial structure and supporting its ongoing strategic initiatives. “This redemption is a significant step in our efforts to optimize our balance sheet and provide our investors with solid returns,” Haxhimehmedi conveyed.

Paratus Energy Services is primarily an investment holding entity that encompasses a diverse portfolio of energy service companies. Notably, the group includes Fontis Energy, which is up for sale and operates an offshore drilling fleet comprising high-specification rig units in Mexico. Another prominent component is the company’s 50% joint venture in Seagems, recognized for its leading subsea services and equipped with a fleet of multi-purpose pipe-laying vessels in Brazil. This structural composition positions Paratus favorably within the competitive landscape of energy services, particularly in dynamic offshore environments.

The recent bond issue not only reinforces Paratus's liquidity but also enhances its financial flexibility amidst an evolving market backdrop characterized by fluctuations in energy demand and supply chains. By strategically managing its debt through the redemption of the Senior Secured Notes, the company aims to steer towards sustainable growth and investor confidence in its operational capabilities.

Such initiatives are crucial as the energy sector continues to grapple with global challenges, including regulatory shifts, technological advancements, and environmental considerations. Paratus Energy Services, with its adept handling of financial instruments and strategic positioning, is set to navigate these waters effectively.

For additional information regarding Paratus Energy Services Ltd. and its operations, interested parties are encouraged to visit their website at www.paratus-energy.com. Inquiries can also be directed to the CFO Baton Haxhimehmedi at +47 4063 9083 or via email at [email protected]

In conclusion, the successful redemption of the Senior Secured Notes due 2026 marks a pivotal moment in Paratus Energy Services' financial journey, embodying its commitment to enhancing shareholder value while strategically managing its operational framework in a challenging market landscape.