Loan & DebtMay 19, 2026, 04:13 PM
Patterson-UTI Energy Issues $500M 6.050% Senior Notes due 2036
AI Summary
Patterson-UTI Energy, Inc. completed an offering of $500 million aggregate principal amount of 6.050% Senior Notes due 2036. The company intends to use the net proceeds from the offering to redeem its outstanding 3.95% Senior Notes due 2028 and for general corporate purposes. The Notes are senior unsecured obligations, bearing interest semi-annually and maturing on May 15, 2036.
Key Highlights
- Patterson-UTI Energy issued $500 million aggregate principal amount of Senior Notes.
- The Notes bear interest at a rate of 6.050% per annum.
- The Notes will mature on May 15, 2036.
- Interest on the Notes will be paid semi-annually on May 15 and November 15.
- Net proceeds will be used to redeem outstanding 3.95% Senior Notes due 2028 and for general corporate purposes.
- The Notes are senior unsecured obligations of the company.
Price Impact
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