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Prospect News home > News index > List of issuers Tenders > Headlines for 2014 > News item
Published on 11/21/2014 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Prospector holders may put 7¾% bonds due 2019 at 101 due to buyout

By Susanna Moon

Chicago, Nov. 21 – Prospector Finance II Sarl holders may put their 7¾% senior secured second-lien bonds due 2019 at 101 for two months until Jan. 19.

The put option was triggered by a change of control that occurred when Paragon Offshore plc bought out more than one-third of the company’s ultimate parent on Nov. 17, according to a notice by trustee Nordic Trustee ASA and a press release by Paragon.

Paragon is a Houston-based provider of offshore drilling rigs.


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