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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.