Deal Description: Helmerich & Payne, Inc. (NYSE: HP) (“H&P” or the “Company”) announced on September 27, 2021 that it has priced its previously announced private offering (the “Offering”) of $550 million aggregate principal amount of 2.900% Senior Notes due 2031 to eligible purchasers pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The offering size was increased from the previously announced offering size of $500 million in aggregate principal amount.
The Company intends to use the net proceeds from the Offering, plus cash on hand, to redeem and retire all $487.1 million aggregate principal amount of the Company’s outstanding 4.65% Senior Notes due 2025 (the “Redemption”).
The Offering is expected to close on September 29, 2021, subject to customary closing conditions.
Baker Botts L.L.P. represented H&P in the Offering and the Redemption.
Baker Botts Lawyers/Office Involved:
- Corporate: Grant Everett (Partner, Dallas); Lakshmi Ramanathan (Senior Associate, Houston); Marshall B. Heins II (Associate, Houston); Catherine Ellis (Associate, Houston); Michael Mazidi (Associate, Houston)
- Finance: Luke Weedon (Partner, Dallas); Josh Espinosa (Associate, Dallas)
- Tax: Steve Marcus (Partner, Dallas); Jordan Hahn (Senior Associate, Dallas)
- Environmental: Aileen Hooks (Partner, Austin); Katie Windle (Associate, Austin)
For more information, please see H&P’s news release by clicking here.
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