This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Parker Drilling Company Announces Results Of Cash Tender Offer For Its 2.125% Convertible Senior Notes Due 2012





HOUSTON, May 9, 2012 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) (Company) today announced the expiration and final results of the Company's previously announced cash tender offer (Tender Offer) for any and all $125 million aggregate principal amount of its 2.125% Convertible Senior Notes due 2012 (Convertible Senior Notes). The Tender Offer expired at 11:59 p.m., New York City time, on May 8, 2012. The Tender Offer was made pursuant to the Offer to Purchase dated April 11, 2012.

(Logo:  http://photos.prnewswire.com/prnh/20050620/PARKERDRILLINGLOGO)

Based on information provided by The Bank of New York Mellon Trust Company, N.A., the depositary for the tender offer, $122,852,000 in aggregate principal amount of Convertible Senior Notes were validly tendered and not withdrawn pursuant to the Tender Offer. The Company accepted for purchase all of the aggregate principal amount of Convertible Senior Notes (the Accepted Notes) validly tendered and not withdrawn for aggregate consideration of $124,073,165.94 (the Total Consideration), which includes accrued but unpaid interest on the Accepted Notes. All Convertible Senior Notes purchased in the Tender Offer will be retired.

The Company will deposit with the Depository Trust Company the amount of cash necessary to pay for all Accepted Notes, which payment will include accrued and unpaid interest to, but not including, May 9, 2012.

The complete terms and conditions of the Tender Offer are described in the Offer to Purchase dated April 11, 2012, as amended, copies of which may be obtained from D.F. King & Co., Inc., the information agent for the Tender Offer, at (800) 628-8536 (US toll free) or, for banks and brokers, (212) 269-5550. The Company retained Barclays Capital Inc. to act as the exclusive dealer manager in connection with the Tender Offer. Questions regarding the terms of the Tender Offer may be directed to Barclays Capital Inc. at (800) 438-3242 (toll-free) or (212) 528-7581 (collect).

This announcement is not an offer to purchase or a solicitation of an offer to purchase any securities. The Tender Offer was made solely by the Offer to Purchase dated April 11, 2012, as amended. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,993.03 +280.37 1.58%
S&P 500 2,082.50 +21.48 1.04%
NASDAQ 4,931.18 +39.9610 0.82%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs