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Senior notes, comprised of the following tranches (collectively, the "Notes"): $350 million aggregate principal amount of 4.650% senior notes due 2027 to be issued at a price equal to 99.958% of their face value, $350 million aggregate principal amount of 4.850% senior notes due 2029 to be issued at a price equal to 99.883% of their face value and $550 million aggregate principal amount of 5.500% senior notes due 2034 to be issued at a price equal to 99.670% of their face value.
The Company intends to use the net proceeds from the Offering, together with the proceeds of its term loan credit facility and cash on hand, to finance the purchase price for its previously announced pending acquisition (the "Acquisition") of KCA Deutag International Limited ("KCAD"), to repay certain of KCAD's outstanding indebtedness, and to pay related fees and expenses. The net proceeds from the Offering will reduce the commitments under the Company's existing bridge loan facility for purposes of financing the Acquisition to approximately $332 million.
Posted In: HP
