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Hornbeck Offshore Services Inc Closes Sale Of $450,000,000 Of 5.000% Senior Notes Due 2021


Thursday, 28 Mar 2013 10:29am EDT 

Hornbeck Offshore Services Inc announced that it closed the sale of $450,000,000 in aggregate principal amount of its 5.000% Senior Notes due 2021 (Senior Notes) in a private placement. The net proceeds to the Company from this offering were approximately $442.4 million, after deducting initial purchaser discounts and fees and expenses of the offering. The Company used approximately $252.7 million of such proceeds to repurchase approximately 93.85% of the outstanding $250 million in aggregate principal amount of its 8.000% Senior Notes due 2017 (the 8.000% Notes) pursuant to its previously announced tender offer and consent solicitation for the 8.000% Notes. The Company accepted all 8.000% Notes that were tendered by 5:00 p.m., New York City time, on March 27, 2013, for purchase and payment. The $252.7 million comprised the total consideration paid for such 8.000% Notes tendered, including related accrued interest and consent fees. The remaining proceeds will be used to repurchase or redeem the approximately 6.15% of the 8.000% Notes that remain outstanding and for general corporate purposes, which may include retirement of other debt or funding for the acquisition, construction or retrofit of vessels. 

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