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Oceaneering - Tender Offer - Expiration and Results

Oceaneering Announces Expiration and Results of Cash Tender Offer for Any and All of its Outstanding 4.650% Senior Notes due 2024

27 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Oceaneering International, Inc.(Tender) & Oceaneering International, Inc. (Pricing of New Bonds - from 21st Sept 2023)


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"The tender offer expired at 5:00 p.m., New York City time, on September 26, 2023 (the “Expiration Time”). As of the Expiration Time, an aggregate principal amount of $311,165,000, or approximately 77.8%, of the Notes were validly tendered and not validly withdrawn. In addition, $3,191,000 aggregate principal amount of the Notes were tendered pursuant to the guaranteed delivery procedures described in the Tender Offer Documents.


Subject to the completion of Oceaneering’s previously announced offering of $200,000,000 aggregate principal amount of additional 6.000% Senior Notes due 2028 (the “2028 Notes”) in a private placement to eligible purchasers, which is expected to close on October 2, 2023, subject to customary closing conditions, Oceaneering expects to accept for purchase all Notes validly tendered and not validly withdrawn at or prior to the Expiration Time and all Notes properly delivered pursuant to guaranteed delivery procedures and expects to make payment for all such Notes on October 2, 2023."


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Oceaneering Announces Cash Tender Offer for Any and All of its Outstanding 4.650% Senior Notes due 2024 (and Private Offering)

20 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Oceaneering International, Inc.(Tender) & Oceaneering International, Inc. (Private Offering)


"HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (“Oceaneering”) (NYSE: OII) announced today that it has commenced a cash tender offer to purchase any and all of its outstanding 4.650% Senior Notes due 2024 (the “Notes”) for the consideration described below."


* Per $1,000 principal amount of Notes. The consideration per $1,000 principal amount of Notes validly tendered and accepted for purchase pursuant to the tender offer shall be the purchase price set forth in the table above, plus accrued and unpaid interest from the last applicable interest payment date to, but not including, the Settlement Date (as defined below).


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"Purpose of the Tender Offer........


The purpose of the Tender Offer is to reduce the principal amount outstanding of the Notes. We intend to retire and cancel any Notes that are validly tendered and accepted for purchase pursuant to the Tender Offer. We reserve the right, in our sole discretion, to redeem any of the Notes that remain outstanding after the completion of the Tender Offer in accordance with the terms of the indenture governing the Notes or to repurchase the Notes in open market purchases, privately negotiated transactions or otherwise, upon such terms and at such prices as we may determine, which in each case may be more or less than the price to be paid pursuant to the Tender Offer. This Offer to Purchase does not constitute a notice of redemption or an obligation to issue a notice of redemption. There can be no assurance that any Notes that remain outstanding after the completion of the Tender Offer will be redeemed or otherwise repurchased."


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