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Vantage Drilling holders put $1.84 million 7.875% senior convertible notes due 2042
By Susanna Moon
Chicago, Sept. 18 – Vantage Drilling Co. holders exercised the put option on $1,837,000 of its 7.875% senior convertible notes due 2042, according to a SC TO-I/A filing with the Securities and Exchange Commission.
The put repurchase offer expired at 5 p.m. ET on Aug. 31.
The convertibles were issued Aug. 21, 2012.
As of the close of business on Aug. 31, there was $19,000 principal amount of notes left outstanding.
As announced Aug. 4, Vantage said it failed to make the $59.5 million second milestone shipyard payment due July 15 on the Cobalt Explorer drillship.
Vantage Drilling is a Houston-based offshore drilling contractor.
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