Diamond Offshore Drilling Inc. to Raise $410 Million From Offering of Debentures.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--April 5, 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 that it intends to raise approximately $410 million through an offering of 30-year senior convertible debentures. The debentures will be convertible into shares of Diamond Offshore common stock and after seven years will bear contingent interest contingent interest n. an interest in real property which, according to the deed (or a will or trust), a party will receive only if a certain event occurs or certain circumstances happen. depending on the market price of the debentures. Diamond Offshore intends to use the 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). from the offering for general corporate purposes. This notice does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers of the securities will be made only by means of a private offering memorandum Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. . 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 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. Statements in this press release that contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 include, but are not limited to, statements regarding the offering and the proceeds thereof. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. A discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements. |
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