Helmerich & Payne to offer $500 million 10-year senior notes

By Devika Patel

Knoxville, Tenn., Sept. 27 – Helmerich & Payne, Inc. plans a $500 million Rule 144A private offering of senior notes due 2031, according to a press release.

Proceeds will be used with cash on hand to redeem and retire all of the company’s 4.65% senior notes due 2025 on Oct. 27. As of Monday, $487.1 million of the 4.65% notes were outstanding.

Tulsa, Okla.-based Helmerich & Payne engages in the contract drilling of oil and gas wells.

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