Atwood Oceanics starts roadshow for $400 million eight-year notes

By Paul A. Harris

Portland, Ore., Jan. 9 - Atwood Oceanics, Inc. began a roadshow on Monday for a $400 million offering of eight-year senior notes (Ba3), according to an informed source.

The deal is set to price during the present week.

Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and Wells Fargo Securities LLC are the joint bookrunners.

The notes, which have been registered with the Securities and Exchange Commission, come with four years of call protection and feature a three-year 35% equity clawback as well as a 101% poison put.

The Houston-based offshore drilling, exploration and development company plans to use the proceeds to partially pay down its existing debt.

© 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.