Parker calls its $100 million of floating-rate notes

By Susanna Moon

Chicago, Aug. 17 - Parker Drilling Co. plans to redeem all its outstanding senior floating-rate notes due 2010, according to an 8-K filing with the Securities and Exchange Commission.

The company said it would pay 101% of the principal amount of the notes plus accrued interest up to the redemption date of Sept. 27.

As of Aug. 17, $100 million of the notes were outstanding.

The redemption will be funded by a recent offering of 2.125% convertible senior notes due 2012.

On Aug. 10, 2006 Parker issued a redemption notice for $50 million of its $150 million outstanding notes due 2010 in an 8-K filing with the Securities and Exchange Commission.

Parker Drilling is a Houston-based off-shore drilling services 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.