Oceaneering prices $200M add-on to 6.000% Senior Notes due 2028 at 91.5% of par

OCEANEERING INTERNATIONAL INC

Issued $200M additional 6.000% Senior Notes due 2028, priced at 91.5% of par plus accrued interest.
Notes form a single series with existing $300M notes issued Feb 2018; maturity Feb 1, 2028.
Net proceeds to fund concurrent cash tender offer for up to $200M of 4.650% Senior Notes due 2024.
Offering expected to close Oct 2, 2023; any excess proceeds to be used for general corporate purposes.
J.P. Morgan Securities is initial purchaser representative and sole dealer manager for the tender offer.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

OCEANEERING INTERNATIONAL INC entered into Purchase Agreement for 6.000% Senior Notes due 2028 with J.P. Morgan Securities LLC valued at $200,000,000 aggregate principal amount of additional 6.000% Senior Notes due 2028 (effective 2023-09-21).

Action: entry
Agreement: notes offering
Counterparty: J.P. Morgan Securities LLC
Value: $200,000,000 aggregate principal amount of additional 6.000% Senior Notes due 2028
Effective: 2023-09-21

Exact text from the filing

On September 21, 2023, Oceaneering International, Inc. (“Oceaneering”) entered into a purchase agreement (the “Purchase Agreement”) with J.P. Morgan Securities LLC, as representative of the several initial purchasers named therein (the “Initial Purchasers”), under which Oceaneering agreed to issue and sell $200,000,000 aggregate principal amount of additional 6.000% Senior Notes due 2028 (the “2028 Notes”) in a private placement (the “Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

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OCEANEERING INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001193125-23-240526

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