Vantage Drilling calls $135 million 13½% notes for Aug. 30 redemption

By Angela McDaniels

Tacoma, Wash., Aug. 5 - Vantage Drilling Co. said the $135 million of 13½% senior secured notes due 2013 issued by subsidiary P2021 Rig Co. will be redeemed Aug. 30.

The redemption price is 104 plus accrued interest, according to a notice of redemption included in an 8-K filing with the Securities and Exchange Commission.

The total redemption payment is $144,196,875, or $1,068.125 per $1,000 principal amount of notes.

The company will fund the redemption with some of the proceeds from its $57.5 million public offering of ordinary shares and subsidiary Offshore Group Investment Ltd.'s sale of $1 billion 11½% senior secured first-lien notes due 2015.

Vantage is a Houston-based energy drilling company.

© 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.