KCA Deutag sets mandate for $425 million offering of five-year notes

By Paul A. Harris

Portland, Ore., March 13 – KCA Deutag Alpha Ltd. announced in a Tuesday press release that it has mandated advisers to arrange a series of investor meetings relating an offering of approximately $425 million of five-year senior secured high-yield bonds, subject to market conditions.

The Aberdeen, U.K., drilling and engineering contractor for onshore and offshore oil, gas and geothermal markets plans to use the proceeds, potentially together with borrowings under a new senior secured term loan, to finance the cash consideration payable in connection with the previously announced acquisition of the Omani and Saudi Arabian businesses of Dalma Energy LLC, and to refinance existing Dalma Energy debt.

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