Oceaneering issues $500M 6.875% notes due 2034, expands revolver to $345M

OCEANEERING INTERNATIONAL INC

Issued $500M of 6.875% Senior Notes due 2034 in private placement; interest payable Jan 15 and Jul 15 starting Jan 15, 2027.
Notes are unsecured, rank equally with existing senior unsubordinated debt; redeemable at make-whole prior to Jul 15, 2029, then at specified premiums.
Amended credit facility: commitments increased from $215M to $345M, maturity extended from 2027 to 2031, with ability to upsize by $85M.
Credit facility includes $150M letter of credit sublimit; applicable margin reduced by 25 bps.
Financing condition for previously announced cash tender offer satisfied on July 6, 2026.

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