Shelf Drilling plans roadshow for $475 million notes, $75 million loan in early October

By Paul A. Harris

Portland, Ore., Sept. 26 - Shelf Drilling International Holdings, Ltd. has planned an early October roadshow for a $475 million offering of senior secured notes and a $75 million term loan, according to an informed source.

Jefferies & Co. is the bookrunner for the bonds and the bookrunner and arranger for the term loan.

Proceeds, along with $645 million of equity, will be used to finance the acquisition of 38 drilling rigs from Transocean Inc. for $1.05 billion.

Shelf Drilling is a newly formed international shallow water offshore drilling contractor sponsored by Castle Harlan, CHAMP Private Equity, and Lime Rock Partners.

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