ESV - Ensco Rowan Wants To Capture Discount On Notes Due 2024-2027
Ensco Rowan (ESV) has just announced that it had commenced cash tender offers to purchase up to $600 million of its notes. The company also commenced consent solicitations to amend certain provisions of these notes, including restrictive covenants and certain events of default. The company commented:
"The decision to pursue the tender offers and consent solicitations is part of the ongoing process by the company to proactively manage its capital structure in a manner allowing it to most effectively execute its strategic priorities and maximize value for shareholders".
Source: Ensco Rowan