Ensco intends to price $500 million offering of senior notes due 2026

By Devika Patel

Knoxville, Tenn., Jan. 10 – Ensco plc is planning to price $500 million of senior notes due 2026, according to a 424B5 filing with the Securities and Exchange Commission.

Ensco may redeem the notes with a make-whole call initially and then a par call.

Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are the joint global coordinators and bookrunners, and BNP Paribas Securities Corp., BofA Merrill Lynch, DnB NOR Markets Inc., HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC are the joint bookrunners. SEB is the co-manager.

Proceeds will be used for a cash tender offer for up to $492.5 million of 8½% senior notes due 2019, 6 7/8% senior notes due 2020 and 4.7% senior notes due 2021, as well as for general corporate purposes.

Ensco is a London-based oil and gas services company.

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