Oceaneering to begin public offering of senior notes

Oceaneering International Inc.

Oceaneering International Inc. (NYSE: OII) intends to offer senior notes in an underwritten public offering. The company has priced its offering of $500 million aggregate principal amount of 4.65% senior notes due 2024 at a public offering price of 99.614%. The offering is expected to close on Nov. 21. 

Oceaneering plans to use the net proceeds of the proposed offering for general corporate purposes, which may include funding acquisitions and other capital expenditures and repurchases of outstanding shares of its common stock. Until the net proceeds are used for such purposes, Oceaneering intends to invest the net proceeds in short-term, liquid investments.

Credit Suisse Securities (USA) LLC, JP Morgan Securities LLC, Wells Fargo Securities LLC, DNB Markets Inc., and HSBC Securities (USA) Inc. are acting as joint book-running managers for the proposed offering. In addition, Merrill Lynch, Pierce, Fenner & Smith Inc., Mitsubishi UFJ Securities (USA), and Standard Chartered Bank Inc. are acting as senior co-managers, and Barclays Capital Inc. is acting as co-manager. 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...