Oceaneering prices $500M senior notes offering due 2034

Oceaneering International, Inc. (NYSE: OII) has priced a $500 million private offering of 6.875% Senior Notes due 2034, according to a company statement.

The notes, priced at par, are set to mature on July 15, 2034, with the offering expected to close on July 6, 2026, subject to customary closing conditions.

Oceaneering said it intends to use the net proceeds, along with cash on hand if necessary, to fund the purchase of its existing 6.000% Senior Notes due 2028 through a previously announced concurrent cash tender offer. If the tender offer is not completed, or if proceeds exceed the amount needed, the company plans to use remaining funds for general corporate purposes, which may include repayment, redemption, or repurchase of outstanding debt.

The notes are being offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. persons under Regulation S. The securities have not been registered under the Securities Act or applicable state securities laws.

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