Helmerich & Payne sends conditional redemption notice for 4.65% notes

By Mary-Katherine Stinson

Lexington, Ky., Sept.27 – Helmerich & Payne, Inc. has delivered a conditional notice of redemption to holders of its 4.65% senior notes due 2025, according to a press release.

The notes will be redeemed on Oct. 27, at a redemption price calculated in accordance with the indenture and unpaid interest to the redemption date.

The redemption is conditioned on a new offering of notes, and settlement of the new offer before the redemption date.

Wells Fargo Bank, NA is the trustee for the notes and the paying agent for the redemption.

As of Monday, $487.1 million of the notes were outstanding.

Helmerich & Payne is a Tulsa, Okla.-based company that engages in the contract drilling of oil and gas wells.

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