Loan & DebtJun 26, 2026, 06:07 AM
Oceaneering Prices $500M Senior Notes Due 2034 at 6.875%
AI Summary
Oceaneering International, Inc. announced the pricing of a private offering of $500 million in 6.875% Senior Notes due 2034. The offering is expected to close on July 6, 2026. The company intends to use the net proceeds, along with cash on hand, to fund the purchase of its 6.000% Senior Notes due 2028 through a tender offer, with any remaining proceeds allocated to general corporate purposes, including further debt repayment.
Key Highlights
- Oceaneering priced $500,000,000 aggregate principal amount of 6.875% Senior Notes due 2034.
- The notes were offered in a private placement to qualified institutional buyers and non-U.S. persons.
- The offering is expected to close on July 6, 2026.
- Net proceeds will fund the purchase of 6.000% Senior Notes due 2028 in a tender offer.
- Remaining net proceeds will be used for general corporate purposes, including debt repayment.
- A conditional full redemption notice was issued for the 2028 Notes, expected July 25, 2026.
Price Impact
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