Hornbeck Offshore Services, Inc. (NYSE:HOS) Files An 8-K Regulation FD Disclosure

ME Staff 8-k
-
0
Hornbeck Offshore Services, Inc. (NYSE:HOS) Files An 8-K Regulation FD Disclosure

Hornbeck Offshore Services, Inc. (NYSE:HOS) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure

Hornbeck Offshore Services, Inc. (the “Company”) announced today that as of the Early Tender Date, as contemplated in its previously announced exchange and tender offers (the “Offers”) and solicitation of consents for the Company’s outstanding 5.875% Senior Notes due 2020 and 5.000% Senior Notes due 2021 (the “2021 Senior Notes” and together with the 2020 Senior Notes, the “Existing Notes”) holders of approximately 83.4% of the 2020 Senior Notes and holders of approximately 94.8% of the 2021 Senior Notes have tendered Existing Notes in the Offers.

Given that the preliminary results are well below the required threshold of 99% required to the terms of the Offers, the Company, in consultation with its advisors, is exploring a range of options with its stakeholders with the common objective of strengthening the Company’s financial position. Consistent with this goal, the Company is deferring certain upcoming debt service payments and the requisite lenders under the applicable debt documents intend to provide for the suspension of exercise of rights in connection with the deferral of these payments while the parties continue their discussions.

The information in this Current Report on Form 8-K is for informational purposes only and is not an offer to purchase or exchange or a solicitation of an offer to purchase, exchange or sell any securities, nor shall there be any sale or exchange of any securities in any jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Forward-Looking Statements

This communication contains forward-looking statements, including, in particular, statements about the Company’s plans and intentions with regard to the Offers and related consent solicitations. These statements are based on the Company’s current assumptions, expectations and projections about future events. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that the expectations will prove to be correct.


About Hornbeck Offshore Services, Inc. (NYSE:HOS)

Hornbeck Offshore Services Inc. provides marine transportation, subsea installation and accommodation support services to exploration and production, oilfield service, offshore construction and the United States military customers. The Company focuses on providing marine solutions for the deepwater and ultradeepwater energy industry in domestic and select foreign locations. The Company, through its subsidiaries, operates offshore supply vessels (OSVs), multi-purpose support vessels (MPSVs), and a shore-base facility to provide logistics support and specialty services to the offshore oil and gas exploration and production industry, primarily in the United States, Gulf of Mexico, Latin America and selected international markets. Its OSVs and MPSVs support the deep-well, deepwater and ultra-deepwater activities of the offshore oil and gas industry. It provides vessel management services for other vessel owners, such as crewing, daily operational management and maintenance activities.