Oceaneering International, Inc. (“Oceaneering”) (NYSE: OII) announced today the expiration and results of the previously announced cash tender offer to purchase any and all of its outstanding 4.650% Senior Notes due 2024 (the “Notes”). The cash tender offer was announced on September 20, 2023 and was made pursuant to the Offer to Purchase dated September 20, 2023 (the “Offer to Purchase”) and the related Notice of Guaranteed Delivery (together, the “Tender Offer Documents”).
The tender offer expired at 5:00 p.m., New York City time, on September 26, 2023 (the “Expiration Time”). As of the Expiration Time, an aggregate principal amount of $311,165,000, or approximately 77.8%, of the Notes were validly tendered and not validly withdrawn. In addition, $3,191,000 aggregate principal amount of the Notes were tendered pursuant to the guaranteed delivery procedures described in the Tender Offer Documents.
Subject to the completion of Oceaneering’s previously announced offering of $200,000,000 aggregate principal amount of additional 6.000% Senior Notes due 2028 (the “2028 Notes”) in a private placement to eligible purchasers, which is expected to close on October 2, 2023, subject to customary closing conditions, Oceaneering expects to accept for purchase all Notes validly tendered and not validly withdrawn at or prior to the Expiration Time and all Notes properly delivered pursuant to guaranteed delivery procedures and expects to make payment for all such Notes on October 2, 2023.
J.P. Morgan Securities LLC acted as dealer manager (the “Dealer Manager”) for the tender offer. Global Bondholder Services Corporation served as the Depositary and Information Agent for the tender offer.