LGBT rights in Bermuda

Valaris Announces Successful Completion of Consent Solicitation with Respect to its Senior Secured First Lien Notes due 2028

Retrieved on: 
Monday, August 22, 2022
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The Consent Fee will be approximately $5.25 per $1,000 principal amount for which a holder validly delivered its consent prior to the Expiration Date (and did not validly revoke such consent).

Key Points: 
  • The Consent Fee will be approximately $5.25 per $1,000 principal amount for which a holder validly delivered its consent prior to the Expiration Date (and did not validly revoke such consent).
  • The Company expects to pay the Consent Fee on or about August 22, 2022.
  • This press release is also not a solicitation of consents with respect to the Proposed Amendments or any securities.
  • These statements include, but are not limited to: statements regarding the Proposed Amendments and the expected payment of the Consent Fee.

Valaris Announces Consent Solicitation with Respect to its Senior Secured First Lien Notes due 2028

Retrieved on: 
Monday, August 15, 2022
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Any consenting holder will not be permitted to trade its Notes, unless such holder validly revokes its consent, between the time that it provides such consent and the Expiration Date.

Key Points: 
  • Any consenting holder will not be permitted to trade its Notes, unless such holder validly revokes its consent, between the time that it provides such consent and the Expiration Date.
  • As a result, the Consent Fee for the Notes will range from $5.00 per $1,000 (if all holders consent) to approximately $10.00 per $1,000 (if holders of only a majority of the aggregate principal amount of the Notes consent).
  • The Proposed Amendments will be effected through a supplemental indenture with respect to the Notes, to be executed promptly after receipt of the Required Consents.
  • Full details of the terms and conditions of the Consent Solicitation are included in the consent solicitation statement, dated August 15, 2022.