Hamilton, Bermuda, May 4, 2026 - Paratus Energy Services Ltd. (ticker 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. (ticker: 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.