Hercules Offshore begins brief roadshow for $300 million eight-year secured notes via UBS

By Paul A. Harris

St. Louis, Oct. 5 - Hercules Offshore, Inc. began a brief roadshow on Monday for its $300 million offering of eight-year senior secured notes, according to an informed source.

The roadshow for the deal, which it being led by left bookrunner UBS Investment Bank, ends Thursday. Pricing is expected the same day.

Bank of America Merrill Lynch, Deutsche Bank Securities Inc. and Morgan Stanley & Co. Inc. are joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

The notes come with four years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to repay a portion of the debt outstanding under the company's term loan.

Hercules is a Houston-based provider of drilling services for oil and gas production.

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