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Oceaneering Announces Cash Tender Offer for Any and All of Its Outstanding 6.000% Senior Notes Due 2028

OII
  • Oceaneering International, Inc. announced a cash tender offer to purchase all outstanding 6.000% Senior Notes due 2028.
  • The aggregate principal amount of Notes outstanding is $500,000,000.
  • The purchase price for each $1,000 principal amount will be determined by adding a fixed spread of 40 basis points to the yield to maturity of a 3.50% U.S. Treasury due October 31, 2027.
  • The price calculation will reference Bloomberg Bond Trader FIT4 quotes at 2:00 p.m. New York City time on June 30, 2026.
  • The tender offer is scheduled to expire at 5:00 p.m. New York City time on June 30, 2026.
  • Holders may withdraw validly tendered Notes prior to the expiration time or after 60 business days if the offer has not been consummated.
  • Notes delivered via guaranteed delivery procedures must be received no later than 5:00 p.m. New York City time on July 2, 2026.
  • Settlement is expected on July 6, 2026, which will include the purchase price plus accrued interest.
  • The tender offer is conditioned on Oceaneering completing debt financing transactions satisfactory to the company.
  • There is no minimum amount of Notes required to be tendered for the offer to proceed.
  • J.P. Morgan Securities LLC was retained as the dealer manager for the transaction.
  • Copies of the Offer to Purchase \& related documents are available through Global Bondholder Services Corporation.
  • Oceaneering made no recommendation regarding whether holders should tender or refrain from tendering their Notes.