Offshore jack-up oil and gas well drilling company, Ensco, has raised $2.5 billion in a sale of senior unsecured notes. It sold bonds worth $1 billion, which carry a coupon rate of 3.25% and will mature in 2016, and notes worth $1.5 billion with a coupon rate of 4.7%, due in 2021. Ensco plans to use the net proceeds from the offering to partially finance its acquisition of Pride International. The joint book-running managers for the sale were Citigroup Global Markets, Deutsche Bank and Wells Fargo, while DnB NOR Markets, BBVA Securities, HSBC Securities, Mitsubishi UFJ Securities, Natixis Securities, Merrill Lynch, Pierce, Fenner & Smith and Lloyds Securities were co-managers.
Click here for the release from Ensco.