Oceaneering International announced the expiration and results of its cash tender offer to purchase any and all of its outstanding 6.000% Senior Notes due 2028. As of the expiration time on June 30, 2026, valid tenders were received for approximately $399.8 million principal amount of the notes, representing 79.95% of the $500 million aggregate principal amount outstanding. The purchase price is $1,018.46 per $1,000 principal amount, plus accrued and unpaid interest. Oceaneering expects to accept all validly tendered notes and those delivered under guaranteed delivery procedures, with settlement expected on July 6, 2026, subject to the closing of its offering of $500 million of 6.875% Senior Notes due 2034. The company also intends to redeem any remaining outstanding notes on or around July 25, 2026.
Oceaneering International IncOceaneering is refinancing its 6.000% notes due 2028 with new 6.875% notes due 2034, extending maturity and managing debt, which is positive for its capital structure.