Ad Hoc Group of 2020 Noteholders Releases Supplemental Information Regarding Hornbeck Offshore Services October 13, 2017, 8-K

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Ad Hoc Group of 2020 Noteholders of Hornbeck Offshore Services Inc.

Oct 16, 2017, 07:30 ET

WASHINGTON, Oct. 16, 2017 /PRNewswire/ -- On October 13, 2017, Hornbeck Offshore Services, Inc. (the "Company") issued an 8-K describing proposals made by the Company and certain holders (the "Ad Hoc Group") of the Company's 5.875% Senior Notes due in 2020 (the "2020 Notes"). In addition to the disclosures contained in the 8-K, the Ad Hoc Group was provided certain additional information concerning the proposals described in Exhibit 99.2 and Exhibit 99.3. Specifically, the Company provided the following feedback on specific terms contained in the proposals set forth on Exhibit 99.2 and Exhibit 99.3:

2021 Notes	The Company is considering and developing transactions to address the 5.0% Senior Notes due 2021, but would do so separately from any transaction relating to the 2020 Notes.
Minimum Tender Condition	The 80% minimum tender condition is not acceptable.
Assignments	The Ad Hoc Group's proposal on free tradability creates structural legal issues.