Helmerich & Payne prices $1.25B senior notes offering in three tranches

Helmerich & Payne, Inc.

$350M at 4.650% due 2027 (99.958%), $350M at 4.850% due 2029 (99.883%), $550M at 5.500% due 2034 (99.670%).
Offering expected to close Sept 17, 2024 subject to customary conditions.
Net proceeds to finance KCA Deutag acquisition, repay KCAD debt, pay fees; bridge loan reduced to ~$332M.
Notes subject to special mandatory redemption if acquisition not closed by Oct 25, 2025 or abandoned.
Offered only to QIBs under Rule 144A and non-U.S. persons under Regulation S; not registered.

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