Atwood Oceanics may redeem some 6½% notes due 2020 with stock proceeds

By Wendy Van Sickle

Columbus, Ohio, Jan. 9 – Atwood Oceanics, Inc. may redeem some of its 6½% senior notes due 2020 with some proceeds of an offering of 13.5 million shares of its common stock, according to a company news release.

The company may also use proceeds from the offering to repay borrowings under its credit facility, for working capital and capital expenditures and to enhance its liquidity.

Goldman Sachs & Co. is acting as bookrunner for the offering.

Atwood is an offshore drilling company based in Houston.

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