Rowan Cos. to offer $350 million of 7-year senior notes, proceeds for debt repayment
By APThursday, August 19, 2010
Rowan Cos. to offer $350M of senior notes
HOUSTON — Rowan Cos., a contract drilling services company, said Thursday that it will offer $350 million of senior notes, using the proceeds for general corporate purposes.
Rowan will offer seven-year unsecured senior notes through a public offering.
The company said some of the money could be used to repay the debt of Skeie Drilling & Production ASA. Rowan announced plans to purchase three drillings rigs of the Norwegian entity in July.
Rowan shares fell 37 cents, or 1.4 percent, to $25.89 in morning trading.
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