Du er på: newsweb.no
newsweb.no
Utsteder
Utst.ID
Instrument
  Nullstill...
Kategori
Fra dato
Til dato
Skjul ikke-informasjonspliktige pressemeldinger Info...
Vis kun lagringspliktige meldinger Info...
Vis kun siste versjon av melding Info...
Vis kun aktive utstedere Info...
Vis kun Oslo Børs meldinger Info...
 
MeldingsID: 348680
Dato/tid 20.03.2014 22:25
Utsteder Ocean Rig UDW Inc.
UtstederID OCR
Instrument OCR01 PRO
Marked ABM
Kategori ANDRE BØRSMELDINGER
Informasjonspliktig   Informasjonspliktige opplysninger
Vedlegg
Tittel OCEAN RIG UDW INC. ANNOUNCES PRICING OF OFFERING OF $500 MILLION SENIOR NOTES DUE 2019
Tekst
Nicosia, Cyprus - March 20, 2014 - Ocean Rig UDW Inc. 
(NASDAQ: ORIG) ("Ocean Rig" or the "Company"), a 
global provider of offshore deepwater drilling 
services, announced today the pricing of its 
previously announced offering of $500 million in 
aggregate principal amount of Senior Notes due 2019 
(the "Notes"). The Notes were priced at 100% of par, 
with a stated interest rate of 7.250%. The Notes are 
being sold in a private offering within the United 
States to qualified institutional buyers pursuant to 
Rule 144A under the Securities Act of 1933, as amended 
(the "Securities Act"), and to certain other persons 
outside of the United States in reliance on Regulation 
S under the Securities Act.  The sale of the Notes is 
expected to be consummated on March 26, 2014, subject 
to customary closing conditions.
The Company intends to use the net proceeds from the 
offering of the Notes together with other available 
funds to fund the repurchase or redemption of its 9.5% 
Senior Unsecured Notes due 2016, for which it is 
conducting a concurrent tender offer, and to pay 
related fees and expenses. 
This press release shall not constitute an offer to 
sell or the solicitation of an offer to buy the Notes, 
nor shall there be any sale of the Notes in any 
jurisdiction in which such offer, solicitation or sale 
is unlawful. Any offer of the Notes will be made only 
by means of a private offering memorandum. 
The Notes have not been, and will not be, registered 
under the Securities Act or the securities laws of any 
other jurisdiction and may not be offered or sold in 
the United States absent registration or an applicable 
exemption from registration requirements under the 
Securities Act. 
About Ocean Rig UDW Inc.:

Ocean Rig is an international offshore drilling 
contractor providing oilfield services for offshore 
oil and gas exploration, development and production 
drilling, and specializing in the ultra-deepwater and 
harsh-environment segment of the offshore drilling 
industry. The company owns and operates 11 offshore 
ultra deepwater drilling units, comprised of 2 ultra 
deepwater semisubmersible drilling rigs and 9 ultra 
deepwater drillships, 1 of which is scheduled to be 
delivered to the Company during 2014 and 2 of which 
are scheduled to be delivered during 2015.

Ocean Rig's common stock is listed on the NASDAQ 
Global Select Market where it trades under the symbol 
"ORIG".

Visit the Company's website at www.ocean-rig.com.
Forward-Looking Statements:
Matters discussed in this release may constitute 
forward-looking statements within the meaning of the 
Private Securities Litigation Reform Act of 1995. The 
Private Securities Litigation Reform Act of 1995 
provides safe harbor protections for forward-looking 
statements in order to encourage companies to provide 
prospective information about their business. The 
Company desires to take advantage of the safe harbor 
provisions of the Private Securities Litigation Reform 
Act of 1995 and is including this cautionary statement 
in connection with such safe harbor legislation.

Forward- looking statements relate to Ocean Rig's 
expectations, beliefs, intentions or strategies 
regarding the future. These statements may be 
identified by the use of words like "anticipate," 
"believe," "estimate," "expect," "intend," "may," 
"plan," "project," "should," "seek," and similar 
expressions. Forward-looking statements reflect Ocean 
Rig's current views and assumptions with respect to 
future events and are subject to risks and 
uncertainties. 

The forward-looking statements in this release are 
based upon various assumptions, many of which are 
based, in turn, upon further assumptions, including 
without limitation, management's examination of 
historical operating trends, data contained in Ocean 
Rig's records and other data available from third 
parties. Although Ocean Rig believes that these 
assumptions were reasonable when made, because these 
assumptions are inherently subject to significant 
uncertainties and contingencies which are difficult or 
impossible to predict and are beyond Ocean Rig's 
control, Ocean Rig cannot assure you that it will 
achieve or accomplish these expectations, beliefs or 
projections described in the forward- looking 
statements contained herein. Actual and future results 
and trends could differ materially from those set 
forth in such statements.

Important factors that, in Ocean Rig's view, could 
cause actual results to differ materially from those 
discussed in the forward-looking statements include 
(i) our ability to complete the offering; (ii) factors 
related to the offshore drilling market, including 
supply and demand, utilization, day rates and customer 
drilling programs; (iii) hazards inherent in the 
drilling industry and marine operations causing 
personal injury or loss of life, severe damage to or 
destruction of property and equipment, pollution or 
environmental damage, claims by third parties or 
customers and suspension of operations; (iv) changes 
in laws and governmental regulations, particularly 
with respect to environmental matters; (v) the 
availability of competing offshore drilling vessels; 
(vi) political and other uncertainties, including 
risks of terrorist acts, war and civil disturbances; 
piracy; significant governmental influence over many 
aspects of local economies, seizure; nationalization 
or expropriation of property or equipment; 
repudiation, nullification, modification or 
renegotiation of contracts; limitations on insurance 
coverage, such as war risk coverage, in certain areas; 
political unrest; foreign and U.S. monetary policy and 
foreign currency fluctuations and devaluations; the 
inability to repatriate income or capital; 
complications associated with repairing and replacing 
equipment in remote locations; import-export quotas, 
wage and price controls or any other imposition of 
trade barriers; regulatory or financial requirements 
to comply with foreign bureaucratic actions; changing 
taxation policies; and other forms of government 
regulation and economic conditions that are beyond our 
control; (vii) the performance of our rigs; (viii) our 
ability to procure or have access to financing and 
comply with our loan covenants; (ix) our ability to 
successfully employ our drilling units; (x) our 
capital expenditures, including the timing and cost of 
completion of capital projects; and (xi) our revenues 
and expenses. Due to such uncertainties and risks, 
investors are cautioned not to place undue reliance 
upon such forward-looking statements.

Risks and uncertainties are further described in 
reports filed by Ocean Rig UDW Inc. with the U.S. 
Securities and Exchange Commission.

Investor Relations / Media:
Nicolas Bornozis
Capital Link, Inc. (New York)
Tel. 212-661-7566
E-mail: oceanrig@capitallink.com

Les om ansvar og rettigheter.