Geophysical Sub-Strata offers to exchange 2023 notes for new 2028 notes

By Marisa Wong

Los Angeles, Feb. 8 – Geophysical Sub-Strata Ltd. is inviting holders of its 8% senior notes due 2023 (ISIN: XS1924304618) to exchange any and all of the existing notes for new dollar-denominated 8¼% senior notes due 2028, according to a notice.

For each $1,000 principal amount of existing notes, the company is offering to exchange $1,000 principal amount of new notes, any accrued interest and cash in lieu of any fractional amount of new notes.

The offer will expire at 11 a.m. ET on Feb. 22.

Settlement is expected to occur on Feb. 27.

Phillip Securities Pte. Ltd. is the dealer manager, and Bank of New York Mellon, London Branch is the tabulation and exchange agent.

Further information can be obtained by contacting Abhinav Modi at abhinav@sdpservices.com.

The British Virgin Islands-based holding company is in the oilfield services business.

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