Ensco cash tender offer expires

Ensco plc’s (NYSE: ESV) cash tender offer to purchase any and all of its outstanding 3.25% senior notes due 2016 (CUSIP No. 29358QAB5) expired at 5 p.m. New York City time on March 10. At the expiration time, holders had validly tendered and not validly withdrawn in the tender offer $853,050,000 aggregate principal amount of the notes, representing approximately 85.3% of the outstanding aggregate principal amount of the notes, excluding notes tendered through the guaranteed delivery procedures.

Upon the terms and subject to the conditions specified in the Offer to Purchase dated March 4, Ensco expects to accept for payment all notes validly tendered and not validly withdrawn in the tender offer and expects to make payment for the notes, including notes delivered in accordance with the guaranteed delivery procedures, in same-day funds on March 13.

Following the closing of the contemporaneous notes offering, Ensco intends to exercise its right to redeem any notes not purchased in the tender offer and that remain outstanding pursuant to the indenture governing the notes.

Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. served as the dealer managers for the tender offer. Global Bondholder Services Corporation served as the depositary and information agent for the tender offer.

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