Secunda International Limited Terminates Tender Offer and Consent Solicitation for Senior Secured Floating Rate Notes Due 2012
Posted on: Friday, 13 October 2006, 09:03 CDT
DARTMOUTH, Nova Scotia, Oct. 13 /PRNewswire/ -- Secunda International Limited announced today that it has terminated the cash tender offer and consent solicitation for any and all of its outstanding $125,000,000 aggregate principal amount of Senior Secured Floating Rate Notes due 2012 (CUSIP No. 81370FAB4) (the "Notes"). The Company terminated the tender offer and consent solicitation as a result of the termination of the initial public offering of its common shares in Canada at this time due to adverse market conditions and therefore the Company has determined that the Financing Condition described in the Company's Offer to Purchase and Consent Solicitation dated June 27, 2006 (as amended and supplemented by the Offer to Purchase and Consent Solicitation Statement Supplement of the Company dated August 14, 2006) would not be satisfied. All Notes that previously have been tendered will be promptly returned to holders.
BUSINESS DESCRIPTION
Secunda International Limited is a provider of supply and support services to the offshore oil and gas industry internationally. We currently own and operate a fleet of 14 harsh weather, multifunctional marine vessels that provide supply, support and safety services to offshore exploration, development, production and subsea construction projects. We primarily serve the North Sea, West Africa and the Gulf of Mexico and have a leading position in the east coast of Canada. The combination of our experienced and highly skilled workforce and our multifunctional, harsh weather fleet allows us to operate in virtually any part of the world, including deepwater areas.
Secunda International Limited
CONTACT: Michael Connolly, Vice President, Planning & Investor Relationsof Secunda International Limited, +1-902-465-3400
Source: PRNewswire
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