Hornbeck Offshore (HOS) to Issue $250M of 8.000% Senior Notes due 2017
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Hornbeck Offshore Services, Inc. (NYSE: HOS) announced that it has agreed to sell $250,000,000 aggregate principal amount of its 8.000% Senior Notes due 2017 in a private placement pursuant to Rule 144A under the Securities Act of 1933, as amended. This represents a $50.0 million increase from the aggregate transaction size announced August 12, 2009. The closing is expected to occur August 17, 2009, subject to customary closing conditions.
Hornbeck Offshore intends to use the net proceeds of approximately $237.3 million from the sale of the Senior Notes, after deducting discounts, commissions and estimated expenses, to repay debt under its revolving credit facility, which may be reborrowed.
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