| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for Shelf Drilling Holdings, Ltd. > News item |
Shelf Drilling whispers $300 million add-on to 8¼% notes at 101
By Abigail W. Adams
Portland, Me., June 5 – Shelf Drilling Holdings, Ltd. whispered its $300 million add-on to its 8¼% senior notes due Feb. 15, 2025 at a reoffer price of 101, according to a market source.
The deal is being marketed via an investor call which was scheduled for 10 a.m. ET on Tuesday with pricing to take place thereafter.
Credit Suisse Securities LLC is lead left for the Rule 144A and Regulation S for life deal. RBC Capital Markets Corp., HSBC Securities Inc. and ING are also bookrunners.
The notes are non-callable until Feb. 15, 2021. The first call is at 106.188. There is an equity clawback for up to 35% until Feb. 15, 2021 at 108.25.
Proceeds will be used to repay a sale and leaseback facility and for general corporate purposes.
Shelf Drilling is a subsidiary of Shelf Drilling, Ltd., a Dubai-based shallow water offshore drilling contractor.
© 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.