Oceaneering International has priced a private offering of $500 million in senior notes due 2034, bearing an interest rate of 6.875% and maturing on July 15, 2034. The company intends to use the net proceeds to finance the purchase of any and all of its 6% notes due 2028, with the remainder allocated to general corporate purposes including repayment, redemption, and repurchase of outstanding debt. Earlier on May 21, Oceaneering secured an integrated offshore installation contract for the West Delta Deep Marine gas field development project in Egypt, which is expected to generate significant revenue in 2026 through the provision of integrated solutions, remotely operated vehicles, and survey services.
Oceaneering International IncPricing of $500M senior notes offering to refinance existing debt, improving financial flexibility.