HOUSTON, Jan. 7, 2014 /PRNewswire/ -- Parker Drilling
Company (NYSE: PKD) (the "Company") today announced that it
intends, subject to market and other conditions, to offer and sell
to eligible purchasers $360 million
aggregate principal amount of Senior Notes due 2022. The Company
intends to use the net proceeds from the offering to fund a portion
of its tender offer for any and all of its outstanding 9.125%
Senior Notes due 2018 and the related consent solicitation and to
pay related premiums, fees and expenses.
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The notes to be offered have not been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws and, unless so registered, may not be offered
or sold in the United States
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
applicable state securities laws. The notes will be offered only to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act and non-U.S. persons in transactions outside
the United States in reliance on
Regulation S under the Securities Act.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any notes nor shall there be any
sale of notes in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in this news release, including but not limited to
those relating to the offering of notes, the tender offer and other
statements that are not historical facts are forward-looking
statements that are based on current expectations. Although the
Company believes that its expectations are based on reasonable
assumptions, it can give no assurance that these expectations will
prove correct. Important factors that could cause actual results to
differ materially from those in the forward-looking statements
include results of operations, market conditions, capital needs and
uses, and other risks and uncertainties that are beyond the
Company's control, including those described in the Company's Form
10-K for the year ended December 31,
2012 and its other filings with the Securities and Exchange
Commission. Any forward-looking statement speaks only as of the
date on which such statement is made and the Company undertakes no
obligation to correct or update forward-looking information.
SOURCE Parker Drilling Company