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Ensco Prices $1.25 Billion Offering of Senior Notes

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Ensco plc (NYSE:ESV) announced today that it has priced an underwritten offering of $1.25 billion principal amount of senior unsecured notes consisting of two series:

  • $625 million principal amount of 4.50% senior unsecured notes due 2024 priced at 99.864% of par
  • $625 million principal amount of 5.75% senior unsecured notes due 2044 priced at 99.560% of par

Ensco intends to use the net proceeds from the offering for general corporate purposes, which may include payments with respect to its seven rigs under construction and other capital expenditures. The expected settlement date for the offering is 29 September 2014, subject to customary closing conditions.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., DNB Markets, Inc., Goldman, Sachs & Co., HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are acting as joint book-running managers in connection with the offering. The final prospectus supplement and related prospectus for this offering may be obtained on the Securities and Exchange Commission’s website at www.sec.gov or, upon request, from any of the representatives of the underwriters:

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Email: prospectus@citi.com
Telephone: 1-800-831-9146

Deutsche Bank Securities Inc.
Attention: prospectus group
60 Wall Street
New York, NY 10005
Email: prospectus.cpdg@db.com
Telephone: 1-800-503-4611

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes described herein. The notes will be offered by means of a prospectus, meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and only to such persons and in such jurisdiction as is permitted by applicable law. The offering of notes was made pursuant to an effective shelf registration statement and prospectus filed by Ensco with the SEC.

Ensco plc (NYSE:ESV) is a global provider of offshore drilling services to the petroleum industry. Ensco plc is an English limited company (England No. 7023598) with its registered office and corporate headquarters located at 6 Chesterfield Gardens, London W1J 5BQ.

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