Hornbeck Offshore pricing $450 million eight-year notes Thursday

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., March 14 - Hornbeck Offshore Services, Inc. is planning to hit Thursday's market with a $450 million offering of senior notes due March 1, 2021 (expected ratings Ba3/BB-), according to a market source.

An investor call was scheduled for 11 a.m. ET.

Barclays is the lead left bookrunner, while J.P. Morgan Securities LLC, Wells Fargo Securities LLC and DNB Markets are joint bookrunners.

Capital One, Comerica, Global Hunter, Iberia, Scotiabank and Simmons are the co-managers.

The Rule 144A and Regulation S with registration rights notes will be callable in three years at par plus 75% of the coupon.

Proceeds will be used to refinance the company's 8% notes due 2017 and for general corporate purposes, including capital expenditures.

Hornbeck Offshore is a Covington, La.-based oilfield services company.

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