Cameron (NYSE: CAM) has priced a public offering of $250 million aggregate principal amount of 1.150% senior notes due 2016, $250 million aggregate principal amount of 4.000% senior notes due 2023, and $250 million aggregate principal amount of 5.125% senior notes due 2043.
The sale of the senior notes is expected to settle on Dec. 16. Cameron intends to use the net proceeds from the offering to repurchase shares of its common stock, depending on market conditions, and for general corporate purposes, which may include the repayment at maturity of its $250.0 million floating rate senior notes due June 2, 2014.
J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., RBS Securities Inc., and Morgan Stanley & Co. LLC are acting as joint book-running managers for the senior notes offering. In addition, Standard Chartered Bank, BBVA Securities Inc., Mitsubishi UFJ Securities (USA) Inc., DNB Markets Inc., UniCredit Capital Markets LLC, and Merrill Lynch, Pierce, Fenner & Smith Inc. are acting as co-managers.