---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-240029"
form_type: "8-K"
ticker: null
cik: "0000949039"
company_name: "DIAMOND OFFSHORE DRILLING, INC."
filed_at: "2023-09-22T23:59:59+00:00"
generated_at: "2026-06-10T10:00:44.315361+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Diamond Offshore issues $550M 8.5% second-lien notes due 2030 to refinance debt

## Summary
- $550M aggregate principal, 8.5% coupon, due Oct 1 2030; net proceeds ~$540M.
- Proceeds used to repay term loan, redeem 2027 PIK toggle notes, and repay revolver borrowings.
- Notes fully guaranteed by Company and certain subsidiaries; secured on second-priority basis.
- Redemption prices: 104.25% in 2026, 102.125% in 2027, 100% thereafter; make-whole prior to Oct 2026.
- Indenture includes covenants restricting debt, liens, dividends, asset sales, and affiliate transactions.

## SEC filing metadata
- accession: 0001193125-23-240029
- form_type: 8-K
- cik: 0000949039
- company_name: DIAMOND OFFSHORE DRILLING, INC.
- filed_at: 2023-09-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/949039/000119312523240029/0001193125-23-240029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/949039/000119312523240029/d452377d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-240029
- JSON: https://secwatch.observer/filing/0001193125-23-240029.json
- Plain text: https://secwatch.observer/filing/0001193125-23-240029.txt

## Key facts
- Debt Financings
  DIAMOND OFFSHORE DRILLING, INC. incurred senior notes of $550 million with HSBC Bank USA, National Association at 8.500% maturing October 1, 2030.
  - Instrument: senior notes
  - Principal: $550 million
  - Counterparty: HSBC Bank USA, National Association
  - Rate: 8.500%
  - Maturity: October 1, 2030
  - Event: incurrence
  source text: issued $550 million aggregate principal amount of 8.500% Senior Secured Second Lien Notes due 2030
  evidence_url: https://www.sec.gov/Archives/edgar/data/949039/000119312523240029/0001193125-23-240029-index.htm
- Material Agreements
  DIAMOND OFFSHORE DRILLING, INC. entered into Indenture with HSBC Bank USA, National Association valued at $550 million (effective 2023-09-21).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: HSBC Bank USA, National Association
  - Value: $550 million
  - Effective: 2023-09-21
  source text: Indenture, dated as of September 21, 2023 (the “Indenture”), entered into among the Issuers, the Company and certain subsidiaries of the Company named therein (the “Guarantors”) and HSBC Bank USA, National Association, as trustee
  evidence_url: https://www.sec.gov/Archives/edgar/data/949039/000119312523240029/0001193125-23-240029-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.