Reference is made to the announcement by Paratus Energy Services Ltd. ("Paratus"
or the "Company") on 29 July 2026 regarding completion of the sale of Fontis.
The Company has today notified Nordic Trustee AS of its decision to apply the
net proceeds(1) from the sale of Fontis, amounting to USD 158,223,077, towards
partial redemption of outstanding bonds under the senior secured bonds due 2029
(the "2029 Bonds") at a price equal to the make whole amount under the 2029
Bonds. The payment will be made pro rata to the bondholders under the 2029
Bonds. In connection with the payment, the nominal value of the bonds will be
amended from USD 100,000 to USD 1.
In reaching its decision, the Company considered, among other factors, the cost
of retaining the proceeds in escrow and the potential cost and availability of
alternative sources of financing for potential future investment opportunities.
The partial redemption of outstanding bonds under the 2029 Bonds is expected to
take place on or about 16 September 2026, at which date the make whole premium
amount thereunder will equal USD 8,709,371. Please see details for the partial
redemption in the attached notice from the bond trustee.
Following the completion of the partial redemption, the outstanding principal
amount of the 2029 Bonds will be approximately USD 353.5 million.
Note (1): "Net proceeds" corresponds to the definition of "Net Disposal
Proceeds" under the 2029 Bonds and represents the cash consideration received at
completion of the Fontis sale, less certain transaction costs incurred in
connection with the transaction.
For additional information, please contact:
Baton Haxhimehmedi, CFO and Interim CEO
baton.haxhimehmedi@paratus-energy.com
+47 406 39 083
About Paratus
Paratus Energy Services Ltd. (ticker: PLSV) is an investment holding company
with a 50% joint venture interest in Seagems. Seagems is a leading subsea
services company that owns and operates a fleet of six multi-purpose pipe-laying
support vessels, providing support, installation, flexible pipe-laying and
construction services. All vessels are currently operating under contracts in
Brazil.
vessels are currently operating under contracts in\
Brazil.\