Diamond Offshore Announces Closing of Senior Notes Offering
HOUSTON, Nov. 5, 2013
HOUSTON, Nov. 5, 2013 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:
DO) today announced the completion of the offering of $1.0 billion aggregate
principal amount of senior notes consisting of $250 million of 3.45% senior
unsecured notes due 2023 and $750 million of 4.875% senior unsecured notes due
2043. The transaction resulted in net proceeds to Diamond Offshore, after
deducting underwriting discounts and estimated expenses payable by the
Company, of approximately $988.1 million.
The offering of the notes was made pursuant to the Company's shelf
registration statement on Form S-3 (Registration No. 333-180004) filed with
the Securities and Exchange Commission. The offering was underwritten by J.P.
Morgan Securities LLC, Wells Fargo Securities, LLC, Citigroup Global Markets
Inc., HSBC Securities (USA) Inc., and SunTrust Robinson Humphrey, Inc., as
Joint Book-Running Managers. A copy of the prospectus supplement and
accompanying base prospectus relating to the offering may be obtained by
calling J.P. Morgan Securities LLC collect at (212) 834-4533 or Wells Fargo
Securities, LLC toll-free at (800) 326-5897.
This press release does not constitute an offer to sell or a solicitation of
an offer to buy any securities nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. The offering is being made only through the
prospectus supplement and accompanying base prospectus, which is part of an
effective shelf registration statement filed with the Securities and Exchange
Commission on March 9, 2012.
ABOUT DIAMOND OFFSHORE
Diamond Offshore is a leader in offshore drilling, providing contract drilling
services to the energy industry around the globe with a total fleet of 45
offshore drilling rigs, including seven rigs under construction. Diamond
Offshore's fleet consists of 33 semisubmersibles, three of which are under
construction, five dynamically positioned drillships, four of which are under
construction, and seven jack-ups. Diamond Offshore is owned 50.4% by Loews
Corporation (NYSE: L).
Statements contained in this press release which are not historical facts are
"forward-looking statements" within the meaning of the federal securities
laws. Forward-looking statements are inherently uncertain and subject to a
variety of risks that could cause actual results to differ materially from
those expected by management of the Company. A discussion of the important
risk factors and other considerations that could materially impact these
matters as well as the Company's overall business and financial performance
can be found in the Company's reports filed with the Securities and Exchange
Commission and readers of this release are urged to review those reports
carefully when considering these forward-looking statements. Given these risk
factors, investors and analysts should not place undue reliance on
forward-looking statements. Any such forward-looking statements speak only as
of the date of this press release. The Company expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statement to reflect any change in the Company's expectations
with regard thereto or any change in events, conditions or circumstances on
which any forward-looking statement is based.
Director, Investor Relations
(Logo: http://photos.prnewswire.com/prnh/20130725/NY53104LOGO-b )
SOURCE Diamond Offshore Drilling, Inc.
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