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Oceanica LUX Completes Cash Tender Offer for Senior Secured Notes Due 2029
OCEANICA LUX Announces Final Results of Its Cash Tender Offer of Any and All Outstanding 13.000% Senior Secured Notes Due 2029 and Associated Consent Solicitation
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Oceanica LUX, a company based in Luxembourg, has completed its cash tender offer for all outstanding 13.000% Senior Secured Notes due 2029, with approximately 94.63% of the notes validly tendered. The offer, which expired on May 20, 2026, resulted in a total of $496.8 million in notes being accepted for purchase, with final settlement expected on May 22, 2026.
- 01The total principal amount of the 13.000% Senior Secured Notes due 2029 originally issued was $525 million.
- 02The Early Tender Date was May 1, 2026, with $18.05 million in notes tendered after this date but before the expiration.
- 03Holders who tendered their notes after the Early Tender Date will receive the applicable Tender Offer Consideration plus accrued interest.
- 04The Tender Offer and Consent Solicitation were conducted by D.F. King & Co., Inc. as the Tender and Information Agent.
- 05Oceanica has been providing subsea engineering solutions for 48 years, focusing on oil and gas exploration and production.
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Oceanica LUX, a private limited liability company based in Luxembourg, has announced the final results of its cash tender offer for its outstanding 13.000% Senior Secured Notes due 2029. The tender offer, which was part of a broader consent solicitation, expired on May 20, 2026, with a total of $496.8 million in notes validly tendered, representing approximately 94.63% of the total outstanding notes of $525 million. Those who tendered their notes after the Early Tender Date of May 1, 2026, will receive the Tender Offer Consideration plus accrued interest, with payment expected on the Final Settlement Date of May 22, 2026. The offer was facilitated by D.F. King & Co., Inc., which served as the Tender and Information Agent. Oceanica has been operational for 48 years, providing technological solutions for subsea engineering, primarily in the oil and gas sector, focusing on ensuring asset integrity and environmental protection. The company emphasizes its commitment to extending the lifespan of its clients' assets while mitigating environmental risks.
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