Loan & DebtJun 24, 2026, 07:46 AM
Oceaneering to Offer $500M Senior Notes; Launches Tender Offer
AI Summary
Oceaneering International, Inc. announced a private offering of $500 million aggregate principal amount of Senior Notes due 2034. The company intends to use the net proceeds primarily to fund a concurrent cash tender offer for any and all of its outstanding $500 million 6.000% Senior Notes due 2028. Additionally, Oceaneering is in advanced discussions to amend its senior secured revolving credit facility, aiming to increase commitments from $215 million to up to $345 million and extend the maturity date from 2027 to 2031.
Key Highlights
- Oceaneering announced a private offering of $500 million Senior Notes due 2034.
- Proceeds from the new notes will fund a cash tender offer for existing 6.000% Senior Notes due 2028.
- The tender offer targets $500 million aggregate principal amount of outstanding 2028 notes.
- The tender offer is scheduled to expire on June 30, 2026, at 5:00 p.m. New York City time.
- Oceaneering is in discussions to amend its revolving credit facility to increase commitments from $215 million to $345 million.
- The credit facility amendment would also extend the maturity date from 2027 to 2031.
Price Impact
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