VAL - Valaris announces pricing of $400M upsized private placement
2023-08-07 17:13:11 ET
- Valaris Limited ( NYSE: VAL ) on Monday announced pricing of $400M upsized private placement of additional 8.375% senior secured second lien notes due 2030.
- The Offering was upsized to $400M from the original offering size of $350M in aggregate principal amount of additional Notes.
- The offering is expected to close on August 21, 2023.
- Valaris intends to use the net proceeds to finance the aggregate purchase price of about $337M for the drillships VALARIS DS-13 and VALARIS DS-14, which Valaris intends to exercise its right to take delivery of on or prior to December 31, and for general corporate purposes.
- Source: Press Release
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Valaris announces pricing of $400M upsized private placement