Diamond Offshore Drilling Inc. Announces Closing of Private Placement of Convertible Senior Debentures Due 2031.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--April 11, 2001 Diamond Offshore Drilling Diamond Offshore Drilling, Inc. is a deepwater drilling contractor which provides drilling services to the energy industry. The company's headquarters are located in Houston, Texas, but they have offices in Louisiana, Africa, Australia, Brazil, Indonesia, Scotland, Singapore, and Inc. (NYSE NYSE See: New York Stock Exchange :DO) today announced the completion of the private placement of $460 million aggregate principal amount of its 1.5% convertible senior debentures due 2031. This amount includes $60 million principal amount sold pursuant to an over-allotment option granted by the company. The transaction resulted in net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to Diamond Offshore of approximately $449.2 million. The debentures and the shares of Diamond Offshore common stock issuable upon conversion thereof have not been registered under the Securities Act of 1933 or the securities laws of any other jurisdiction and will not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration or an applicable exemption from the registration requirements. Diamond Offshore is a leader in deep water drilling. The company's fleet of 45 offshore drilling Offshore drilling typically refers to the act of extracting resources, primarily oil, in an ocean or lake. Controversy As with all oil drilling, there has been a certain level of controversy surrounding the issue. rigs consists of 30 semisubmersibles, 14 jack-ups and one drillship. The fleet operates in the waters of six of the world's seven continents. |
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