secwatch.observer — SEC 8-K summary
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Issuer:     DIAMOND OFFSHORE DRILLING, INC. (—)
CIK:        0000949039
Form:       8-K
Filed at:   2023-09-22T23:59:59+00:00
Accession:  0001193125-23-240029
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949039/000119312523240029/0001193125-23-240029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949039/000119312523240029/d452377d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-240029

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