Aban Offshore: Eyes on bondholders’ meet

Aban Offshore has called a meeting of its bondholders for December 15 seeking an extension in the repayment of part of the outstanding bonds issued by its wholly-owned stepdown subsidiary Deep Drilling 1. The 12 per cent bonds worth $125 million (of four-year tenure) were issued in December 2011. Bonds worth $37.50 million have been partially redeemed. The outstanding $87.50 million matures on December 21.