Ensco prices $1.25 billion offering of senior notes

Ensco plc

Ensco plc (NYSE: ESV) has priced an underwritten offering of $1.25 billion principal amount of senior unsecured notes consisting of two series: $625 million principal amount of 4.50% senior unsecured notes due 2024 priced at 99.864% of par, and $625 million principal amount of 5.75% senior unsecured notes due 2044 priced at 99.560% of par.

Ensco intends to use the net proceeds from the offering for general corporate purposes, which may include payments with respect to its seven rigs under construction and other capital expenditures. The expected settlement date for the offering is Sept. 29.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., DNB Markets Inc., Goldman, Sachs & Co., HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., and Wells Fargo Securities LLC are acting as joint book-running managers in connection with the offering.

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