Vantage Drilling Company Common Shares (VTGDF)

[Papa_Francisco]

Vantage Drilling International Announces Pricing of $350 Million Senior Secured Notes Offering

HOUSTON, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Vantage Drilling International (“Vantage” or the “Company”) today has priced $350 million in aggregate principal amount of 9.250% Senior Secured First Lien Notes (the “notes”) due 2023 in a private placement at par. The offering is expected to close on November 30, 2018, subject to customary closing conditions.

The Company plans to use the proceeds of this offering to repay all of its obligations under, and to terminate, its existing first lien credit agreement, to redeem all of its outstanding 10% senior secured second lien notes due 2020, to fund the remaining amounts to be paid by it in connection with the purchase of a new jack-up rig...