Pride International to start roadshow Tuesday for $400 million 10-year notes

By Paul A. Harris

St. Louis, June 14 - Pride International Inc. will hold a roadshow Tuesday through June 21 for its $400 million offering of 10-year senior notes, according to informed sources.

The deal is expected to price on June 21.

Citigroup, Banc of America Securities and Deutsche Bank Securities will run the books for the Rule 144A offering.

The notes will come with five years of call protection.

The company will also obtain an $800 million credit facility.

Proceeds will be used to retire the company's 9 3/8% senior notes due 2007 and its 10% senior notes due 2009.

The company is a Houston-based drilling contractor.

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