Thursday, Hercules Offshore Inc. (HERO) priced a private placement of $300 million of Senior Secured Notes due 2017, which will bear interest at a rate of 10.5% per annum. The notes are being sold at 97.383% of their face amount to yield 11.0%. The offering is expected to close on or about October 20. The company intends to use the net proceeds from the offering to repay a portion of the indebtedness outstanding under its term loan facility.
Hercules Offshore Inc., together with its subsidiaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry in the U.S. Gulf of Mexico and internationally. It serves integrated energy companies, independent oil and natural gas operators, and national oil companies.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.