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Oceaneering begins any-and-all tender offer for 4.65% notes due 2024
By Marisa Wong
Los Angeles, Sept. 20 – Oceaneering International, Inc. announced it has begun a cash tender offer to purchase any and all of its $400 million outstanding 4.65% senior notes due 2024 (Cusip: 675232AA0), according to a press release.
The company is offering a purchase price of par of $1,000 and will also pay accrued interest to but excluding the settlement date.
The offer will expire at 5 p.m. ET on Sept. 26.
Tenders under guaranteed delivery procedures are due by 5 p.m. ET on Sept. 28.
The company expects settlement to occur on Oct. 2.
The tender offer is conditioned on the company completing one or more debt financing transactions but is not conditioned on any minimum amount of notes being tendered.
Oceaneering separately announced on Wednesday that it intends to offer $200 million of 6% senior notes due 2028 that will constitute an additional issuance of and form a single series with its existing $300 million 6% notes due 2028 issued in February 2018.
J.P. Morgan Securities LLC (866 834-4666 or 212 834-3554) is dealer manager in connection with the tender offer.
The depositary and information agent is Global Bondholder Services Corp. (212 430-3774 for banks and brokers or 855 654-2014; contact@gbsc-usa.com; https://www.gbsc-usa.com/oii/).
Oceaneering is a Houston-based technology company for the offshore energy, defense, aerospace, manufacturing and entertainment industries.
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