Ocean BlackHawk
The “restructuring season” begins for offshore drillers: Diamond Offshore (DO) has just filed an 8-K in which it stated that it elected not to make the semiannual interest payment due in respect of its 5.70% senior notes due 2039. Diamond Offshore commented:
“The company has retained the services of Lazard Freres & Co. LLC as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal advisor to assist the board of directors and management team in analyzing and evaluating the various alternatives with respect to its capital structure”.
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