Tulsa’s Helmerich & Payne, Inc. announced that it has priced its previously announced private offering of $550 million aggregate principal amount of 2.900% senior notes due 2031.
The company had originally announced an offering size of $500 million in aggregate principal amount.
The company stated it intends to use the net proceeds from the offering, plus cash on hand, to redeem and retire all of the company’s outstanding 4.65% Senior Notes due 2025.
As of this week, $487.1 million aggregate principal amount of the 2025 Notes are outstanding. The Offering is not conditioned on the redemption of the 2025 Notes.
The Offering is expected to close on September 29, 2021, subject to customary closing conditions.
Source: Business Wire
