Oceaneering to repay term loan debt with proceeds from new offering

By Sarah Lizee

Olympia, Wash., Jan. 30 – Oceaneering International, Inc. plans to repay outstanding term loan debt using proceeds from a new offering of senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The outstanding term loan debt, which was $300 million as of Jan. 30, currently bears interest at a rate of 3.07% per annum.

The facility is scheduled to mature in October 2019.

Proceeds from the offering will also be used for general corporate purposes.

Oceaneering is a Houston-based provider of engineered services and products to the offshore oil and gas industry.

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