Middle East Jackup sale triggers mandatory redemption of 15% bonds

By Ashley Montgomery

Kansas City, Kan., Jan. 26 - Middle East Jackup I Co. announced the upcoming mandatory redemption of its 15% callable bonds in a news release Thursday.

The mandatory redemption will be triggered by the company's sale of its Haffar 1 jackup rig, the release said. The sale is expected to close in February.

The company said it would release further details regarding the redemption as they become available.

The issuer is a drilling rig company based in the Cayman Islands.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.