Atlantica Tender Drilling pre-marketing $140 million bond offering

By Paul A. Harris

Portland, Ore., May 23 – Atlantica Tender Drilling Ltd. is pre-marketing a $140 million bond offering, subject to market conditions, according to sources.

The contemplated deal has a second-lien security structure and a four-year maturity.

DNB Markets and Pareto Securities are the global coordinators. Danske Bank and SpareBank1 Markets are the joint bookrunners.

The contemplated financing also features a $100 million four-year first-lien term loan tranche.

The Houston-based oil and gas drilling services provider plans to use the proceeds to refinance bank and bond debt.

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