Seacor offers to repurchase 2.5%, 3.25% convertibles after fundamental change

By Wendy Van Sickle

Columbus, Ohio, April 15 – Seacor Holdings Inc. announced a fundamental change purchase offer for its 2.5% convertibles senior notes due 2027 (Cusip: 811904AM3) and its 3.25% convertible senior notes due 2030, according to a news release.

Additionally, the company announced a call for the 2027 notes.

The purchase offer was made in connection with the completion of the merger between Seacor and Safari Merger Subsidiary, Inc., with Seacor as the surviving corporation. The merger closed on Thursday.

The purchase price will be par plus accrued interest for a total per $1,000 principal amount of $1,010.56 for the 2027 notes and $1,000.18 for the 2030 notes.

Notes must be surrendered for purchase by 5 p.m. ET on May 14.

The notes are convertible at $790.08 and $547.47 per $1,000 principal amount for the 2027 and 2030 notes, respectively, until 5 p.m. ET on May 14.

The 2027 notes that remain outstanding will be redeemed at par plus interest on May 17.

Wells Fargo Bank, NA (800 344-5128 or bondholdercommunications@wellsfargo.com) is the trustee, paying agent and conversion agent.

Seacor is an offshore oil, gas and marine equipment company based in Fort Lauderdale, Fla.

© 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.