Atwood Oceanics to pay down revolver debt with proceeds of notes

By Sara Rosenberg

New York, June 18 - Atwood Oceanics Inc. plans on repaying amounts outstanding under its senior secured revolving credit facility using proceeds from a $100 million 6½% senior unsecured notes offering, according to a market source.

Remaining proceeds will be used to fund the company's new build program.

Atwood is a Houston-based offshore oil and gas exploration and production company.

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