ADES International Holding PLC ADES closes USD denominated bond offering (9947W)
25 April 2019 - 12:40AM
UK Regulatory
TIDMADES
RNS Number : 9947W
ADES International Holding PLC
24 April 2019
This announcement is not being made in and copies of it may not
be distributed or sent into the United States, Canada, Australia or
Japan.
ADES International Holding PLC
Announcement of closing of USD denominated bond offering
(London & Dubai, 24 April 2019) ADES International Holding
PLC ("ADES" or the "Company"), a leading oil & gas drilling and
production services provider in the Middle East and North Africa
(MENA), is pleased to announce that it has closed its offering of
US$ 325 million in aggregate principal amount of 8.625% senior
secured notes due 2024.
IMPORTANT INFORMATION
The securities referred to herein may not be sold in the United
States absent registration or an exemption from registration under
the U.S. Securities Act of 1933, as amended. ADES International
Holding PLC does not intend to register any of the securities in
the United States or to conduct a public offering of the securities
in the United States. Any offering of securities will be made by
means of a prospectus that may be obtained from the Company and
that will contain detailed information about the Company and its
management, as well as financial statements.
This announcement is for information purposes only and is
directed only at persons who are: (1) located outside the United
States and are (a) persons in member states of the European
Economic Area (the "EEA") who are qualified investors (as defined
in EU Prospectus Directive 2003/71/EC (as amended, including by EU
Directive 2010/73/EU to the extent implemented in the relevant
member state)); (b) persons in the United Kingdom who are qualified
investors and who are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 as amended (the "Order"); or (ii)
persons falling within Article 49(2) (a) to (d) of the Order ("high
net worth companies, unincorporated associations, etc."); or (iii)
persons to whom it may otherwise be lawfully communicated or (2)
reasonably believed to be "qualified institutional buyers" (as
defined in Rule 144A under the U.S. Securities Act) (all such
persons in (1) and (2) together being referred to as "relevant
persons"). This announcement must not be acted on or relied on by
persons who are not relevant persons. Any investment or investment
activity to which this announcement relates is available only to
relevant persons and will be engaged in only with relevant persons.
Persons distributing this announcement must satisfy themselves that
it is lawful to do so.
FCA/ICMA Stabilisation
MiFID II professionals/ECPs-only - Manufacturer target market
(MIFID II product governance) is eligible counterparties and
professional clients only (all distribution channels).
-Ends-
Enquiries
ADES International
Holding
Hussein Badawy
Investor Relations
Officer ir@adesgroup.com +2 (0)2527 7111
Instinctif
+44 (0)20 7457
David Simonson david.simonson@instinctif.com 2020
+44 (0)20 7457
Dinara Shikhametova dinara.shikhametova@instinctif.com 2020
NOTES TO EDITORS
About ADES International Holding
ADES International Holding extends oil and gas drilling and
production services through its subsidiaries and is a leading
service provider in the Middle East and North Africa, offering
onshore and offshore contract drilling as well as workover and
production services. Its c.4,000 employees serve clients including
major national oil companies ("NOCs") such as Saudi Aramco and
Kuwait Oil Company as well as joint ventures of NOCs with global
majors including BP and Eni. While maintaining a superior health,
safety and environmental record, the Group currently has a fleet of
thirty-four onshore drilling rigs, thirteen jack-up offshore
drilling rigs, a jack-up barge, and a mobile offshore production
unit ("MOPU"), which includes a floating storage and offloading
unit. For more information, visit investors.adihgroup.com
Forward-looking statements
Certain statements contained in this announcement, including any
information as to the Group's strategy, plans or future financial
or operating performance constitute "forward looking statements".
These forward-looking statements can be identified by the use of
forward looking terminology, including the terms "believes",
"estimates", "anticipates", "projects", "expects", "intends",
"aims", "plans", "predicts", "may", "will", "seeks" or "should" or,
in each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives,
goals, future events or intentions. These forward-looking
statements include all matters that are not historical facts. They
appear in a number of places throughout this announcement and
include statements regarding the intentions, beliefs or current
expectations of the Directors of the Company concerning, amongst
other things, the Group's results of operations, financial
condition and performance, prospects, growth and strategies and the
industry in which the Group operates.
By their nature, forward looking statements address matters that
involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Forward looking statements are not guarantees of future performance
and the Group's actual results of operations and financial
condition, and the development of the business sector in which the
Group operates, may differ materially from those suggested by the
forward-looking statements contained in this announcement. In
addition, even if the Group's results of operations and financial
condition, and the development of the industry in which the Group
operates, are consistent with the forward- looking statements
contained in this announcement, those results or developments may
not be indicative of results or developments in subsequent
periods.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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