UAE's Millennium Offshore to sell $225 million five-year secured notes via Goldman Sachs

By Paul A. Harris

Portland, Ore., Feb. 4 - United Arab Emirates-based Millennium Offshore Services Superholdings LLC plans to price a $225 million offering of five-year senior secured notes (B2) on Wednesday, according to a market source.

Initial guidance has the deal coming with a yield in the low-to-mid 9% context, a trader said on Monday morning.

Goldman Sachs is the lead.

The Rule 144A and Regulation S notes come with two years of call protection.

Proceeds will be used to fund a dividend to shareholders.

Millennium Offshore is a rig provider for the offshore oil and gas industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.