Parker Drilling to redeem $65 million 10 1/8% notes with $50 million note proceeds

By Caroline Salls

Pittsburgh, April 14 - Parker Drilling Co. said it will redeem $65 million of its 10 1/8% senior notes due 2009 using proceeds from its offering of an additional $50 million of its 9 5/8% senior notes due 2013.

Parker Drilling is a Houston offshore drilling company.

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