QGOG Atlantic/Alaskan Rigs to start roadshow for $700 million amortizing notes on Monday

By Paul A. Harris

Portland, Ore., July 6 - QGOG Atlantic/Alaskan Rigs Ltd. will begin a global roadshow on Monday for a $700 million offering of amortizing senior secured notes due July 2018 (Baa3//expected BBB-), according to a market source.

The deal will be presented to investors on the West Coast of the United States on Monday and Tuesday. The deal moves to Boston on Wednesday. New York presentations are set for July 14 and July 15.

The roadshow wraps up with presentations in both London and in Continental Europe on July 16 and July 17.

Banco Santander and HSBC are global coordinators and joint bookrunners. Citigroup Global Markets is a joint bookrunner.

The Rule 144A and Regulation S deal is secured by drilling rigs.

The notes come with a 3.8-year average life.

Proceeds will be used to refinance debt.

The company, which is organized under the laws of the British Virgin Islands, was acquired by Brazil's Queiroz Galvao Oleo e Gas Group in transactions that took place the mid-1990s.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.