HAMILTON, Bermuda, May 4, 2026 /PRNewswire/ -- Paratus Energy Services Ltd. (OSLO: PLSV) ("Paratus" or the "Company") has mandated Arctic Securities, DNB Carnegie and Pareto Securities as Joint Global Coordinators and Joint Bookrunners, as well as ABG Sundal Collier and Fearnley Securities as Joint Bookrunners, to arrange a series of fixed income investor meetings commencing today, 4 May 2026.
A USD denominated 5-year senior secured bond issue may follow, subject to, inter alia, market conditions. Net proceeds from the contemplated bond issue will be applied towards the refinancing of Paratus' existing senior secured notes maturing in July 2026, and for general corporate purposes of the group.
In connection with the investor meetings, Paratus will present preliminary and unaudited financial figures for Q1 2026. The key figures for the period which will be presented are summarized below:
(in USD million) | Seagems (50%) | Fontis (held for sale) | Paratus | Combined* |
Contract revenue | 75 | 29 | 104 | |
EBITDA | 48 | 12 | -4 | 56 |
Cash | 15 | 28 | 113 | 156 |
Debt | 80 | 698 | 778 | |
NIBD | 65 | -28 | 585 | 622 |
Backlog | 603 | 13 | 616 |
*Combined segment results are presented in accordance with management reporting. In this context, Seagems' financial results are presented using proportional consolidation of accounting. However, in our financial reporting under US GAAP, Seagems' financial results are reported using the equity method, presented under "Share in results from joint ventures".
The unaudited Q1 2026 interim financial report is scheduled to be released on 29 May 2026.
For further information, please contact:
Baton Haxhimehmedi, CFO and Interim CEO
Baton.Haxhimehmedi@paratus-energy.com
+47 4063 9083
About Paratus
Paratus Energy Services Ltd. (Oslo: PLSV) is an investment holding company of a group of leading energy services companies. The Paratus Group is primarily comprised of its ownership of Fontis Energy and a 50/50 JV interest in Seagems. Fontis Energy is an offshore drilling company with a fleet of five high-specification jack-up rigs in Mexico. Seagems is a leading subsea services company, with a fleet of six multi-purpose pipe-laying support vessels in Brazil.
Important notice
This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities in the Company. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. Any forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Such assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not make any guarantee that the assumptions underlying any forward-looking statements in this announcement are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this announcement or any obligation to update or revise the statements in this announcement to reflect subsequent events. You should not place undue reliance on any forward-looking statements in this announcement. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement. This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
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