Oceaneering International Prices $500 Million 6.875% Senior Notes Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 25 2026
0mins
Oceaneering International announced the pricing of its previously announced offering of $500,000,000 aggregate principal amount of 6.875% Senior Notes due 2034 in a private placement to eligible purchasers at par, plus accrued interest, if any, from July 6. The 2034 Notes will mature on July 15, 2034. The offering is expected to close on July 6, subject to customary closing conditions. Oceaneering intends to use the net proceeds from the offering, together with cash on hand, if necessary, to fund the purchase of any and all of its 6.000% Senior Notes due 2028 validly tendered and accepted for purchase in the previously announced concurrent cash tender offer. If the Tender Offer is not consummated or the net proceeds from the offering exceed the total consideration payable in the Tender Offer, Oceaneering intends to use the remaining net proceeds from the offering for general corporate purposes.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy OII?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on OII
Wall Street analysts forecast OII stock price to fall
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 38.880
Low
23.00
Averages
25.50
High
28.00
Current: 38.880
Low
23.00
Averages
25.50
High
28.00
About OII
Oceaneering International, Inc. is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries. Its Subsea Robotics segment includes remotely operated vehicles (ROVs), survey services and ROV tooling businesses. The Manufactured Products segment provides distribution systems, such as production control umbilicals and connection systems made up of specialty subsea hardware, along with clamp connectors and subsea and topside control valves. The Offshore Projects Group segment provides a portfolio of integrated subsea project capabilities and solutions. The Integrity Management & Digital Solutions segment provides asset integrity management, corrosion management, inspection and nondestructive testing services. The Aerospace and Defense Technologies segment provides services and products, including engineering and related manufacturing in defense and space exploration activities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Oceaneering Increases Credit Facility to $345 Million
- Credit Facility Increase: Oceaneering has raised its senior secured revolving credit facility from $215 million to $345 million, significantly enhancing the company's financial flexibility to support ongoing operations and strategic priorities.
- Maturity Extension: The maturity date of the credit facility has been extended from April 2027 to July 2031, ensuring the availability of funds for the company over the next four years, thereby providing a longer timeframe for growth initiatives.
- Additional Financing Capacity: The credit facility also allows for an additional $85 million in financing and includes $150 million in letter of credit availability, offering the company extra financial security during market fluctuations.
- Banking Support: Oceaneering expressed appreciation for the support from its bank group, which includes both long-standing relationship banks and new participating lenders, indicating a solid foundation of trust and relationships in its financing efforts.
See More
Oceaneering International Prices Cash Tender Offer for Senior Notes
- Cash Tender Offer: Oceaneering International has priced its cash tender offer for outstanding 6.000% Senior Notes due 2028 at $1,018.46 per $1,000 principal amount plus accrued interest, indicating a proactive approach to debt management.
- Tender Expiration Date: The tender offer is set to expire on June 30, 2026, with settlement expected on July 6, 2026, reflecting the company's urgency and strategic planning in debt restructuring.
- Funding Source: Oceaneering intends to fund the tender offer using proceeds from its concurrent senior notes offering, showcasing the company's active engagement in capital markets and financing capabilities.
- Subsequent Redemption Plan: Following the tender offer, the company plans to redeem any remaining 2028 notes around July 25, 2026, further optimizing its capital structure and reducing future interest burdens.
See More
Oceaneering Announces Cash Tender Offer for Senior Notes
- Cash Tender Offer: Oceaneering has announced a cash tender offer to purchase its outstanding 6.000% Senior Notes due 2028 for $500 million, reflecting a proactive approach to debt management aimed at optimizing its capital structure.
- Tender Details: The offer is set to expire on June 30, 2026, allowing investors to withdraw their tenders at any time before this deadline, which enhances flexibility to respond to market changes and boosts investor confidence.
- Interest Payment Arrangement: Holders of accepted notes will receive accrued interest from the last payment date to the settlement date, further enhancing investor return expectations and increasing the attractiveness of the offer in the market.
- Subsequent Plans: Oceaneering intends to pay for the notes on July 6, 2026, after the offer's expiration, and if not all notes are tendered, plans to redeem any remaining notes on July 25, 2026, ensuring timely debt repayment and maintaining financial stability.
See More
Oceaneering International Plans $500M Senior Notes Offering
- Financing Plan: Oceaneering International announced its intention to offer $500 million of senior notes due 2034, which is expected to enhance the company's financial flexibility and optimize its capital structure.
- Repurchase Strategy: Proceeds from this offering will be used to repurchase outstanding 6.000% senior notes due 2028 through a concurrent tender offer, aimed at reducing future interest expenses and improving the company's financial health.
- Use of Funds: Excess proceeds not utilized for the tender offer may be directed toward general corporate purposes, including managing outstanding indebtedness, indicating the company's strategic intent to optimize capital allocation.
- Market Reaction: Oceaneering's shares rose by 0.25%, reflecting a positive market response to its financing plans, despite uncertainties in the Middle East, with the company maintaining its EBITDA guidance of $390 million to $440 million.
See More
Oceaneering International to Report Q2 2026 Financial Results
- Earnings Release Schedule: Oceaneering International is set to release its Q2 2026 financial results on July 22, 2026, after the close of trading on the NYSE, which will provide investors with insights into the company's financial health and operational performance.
- Conference Call Details: The company will host a conference call and webcast on July 23, 2026, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) to discuss the financial results in detail and address investor inquiries.
- Investor Relations Link: The earnings release and a link to the webcast will be available on Oceaneering's Investor Relations website, ensuring that investors can access timely information and participate in the discussion.
- Company Overview: Oceaneering is a global technology company delivering engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, and manufacturing sectors, highlighting its extensive application and technological capabilities across multiple industries.
See More
Israel-Iran Conflict Boosts Energy Stocks Amid Geopolitical Tensions
- Energy Stock Surge: The direct conflict between Israel and Iran briefly pushed Brent crude above $98 per barrel, leading to a rise in energy stocks, although gains moderated during the session, indicating a market repricing of geopolitical risk.
- Overreaction in Markets: Despite President Trump's call for an 'immediate ceasefire', the market's significant response to the escalation in conflict was evident, with energy stocks like Solaris Energy Infrastructure and Oceaneering rising 7.2% and 6.3% respectively, reflecting investor interest in buying high-quality stocks.
- Solaris Energy Infrastructure Update: Solaris Energy Infrastructure's shares have surged 48.3% year-to-date, trading at $74.51, close to its 52-week high of $78.58, demonstrating market confidence in its future performance despite high volatility.
- Investor Sentiment Shift: With a strong jobs report and potential progress in US-Iran negotiations, investors reduced their exposure to energy stocks ahead of any deal announcement, indicating a cautious approach towards future investment returns.
See More
Oceaneering Increases Credit Facility to $345 Million
- Credit Facility Increase: Oceaneering has raised its senior secured revolving credit facility from $215 million to $345 million, significantly enhancing the company's financial flexibility to support ongoing operations and strategic priorities.
- Maturity Extension: The maturity date of the credit facility has been extended from April 2027 to July 2031, ensuring the availability of funds for the company over the next four years, thereby providing a longer timeframe for growth initiatives.
- Additional Financing Capacity: The credit facility also allows for an additional $85 million in financing and includes $150 million in letter of credit availability, offering the company extra financial security during market fluctuations.
- Banking Support: Oceaneering expressed appreciation for the support from its bank group, which includes both long-standing relationship banks and new participating lenders, indicating a solid foundation of trust and relationships in its financing efforts.
See More
Oceaneering International Prices Cash Tender Offer for Senior Notes
- Cash Tender Offer: Oceaneering International has priced its cash tender offer for outstanding 6.000% Senior Notes due 2028 at $1,018.46 per $1,000 principal amount plus accrued interest, indicating a proactive approach to debt management.
- Tender Expiration Date: The tender offer is set to expire on June 30, 2026, with settlement expected on July 6, 2026, reflecting the company's urgency and strategic planning in debt restructuring.
- Funding Source: Oceaneering intends to fund the tender offer using proceeds from its concurrent senior notes offering, showcasing the company's active engagement in capital markets and financing capabilities.
- Subsequent Redemption Plan: Following the tender offer, the company plans to redeem any remaining 2028 notes around July 25, 2026, further optimizing its capital structure and reducing future interest burdens.
See More
Oceaneering Announces Cash Tender Offer for Senior Notes
- Cash Tender Offer: Oceaneering has announced a cash tender offer to purchase its outstanding 6.000% Senior Notes due 2028 for $500 million, reflecting a proactive approach to debt management aimed at optimizing its capital structure.
- Tender Details: The offer is set to expire on June 30, 2026, allowing investors to withdraw their tenders at any time before this deadline, which enhances flexibility to respond to market changes and boosts investor confidence.
- Interest Payment Arrangement: Holders of accepted notes will receive accrued interest from the last payment date to the settlement date, further enhancing investor return expectations and increasing the attractiveness of the offer in the market.
- Subsequent Plans: Oceaneering intends to pay for the notes on July 6, 2026, after the offer's expiration, and if not all notes are tendered, plans to redeem any remaining notes on July 25, 2026, ensuring timely debt repayment and maintaining financial stability.
See More
Oceaneering International Plans $500M Senior Notes Offering
- Financing Plan: Oceaneering International announced its intention to offer $500 million of senior notes due 2034, which is expected to enhance the company's financial flexibility and optimize its capital structure.
- Repurchase Strategy: Proceeds from this offering will be used to repurchase outstanding 6.000% senior notes due 2028 through a concurrent tender offer, aimed at reducing future interest expenses and improving the company's financial health.
- Use of Funds: Excess proceeds not utilized for the tender offer may be directed toward general corporate purposes, including managing outstanding indebtedness, indicating the company's strategic intent to optimize capital allocation.
- Market Reaction: Oceaneering's shares rose by 0.25%, reflecting a positive market response to its financing plans, despite uncertainties in the Middle East, with the company maintaining its EBITDA guidance of $390 million to $440 million.
See More
Oceaneering International to Report Q2 2026 Financial Results
- Earnings Release Schedule: Oceaneering International is set to release its Q2 2026 financial results on July 22, 2026, after the close of trading on the NYSE, which will provide investors with insights into the company's financial health and operational performance.
- Conference Call Details: The company will host a conference call and webcast on July 23, 2026, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) to discuss the financial results in detail and address investor inquiries.
- Investor Relations Link: The earnings release and a link to the webcast will be available on Oceaneering's Investor Relations website, ensuring that investors can access timely information and participate in the discussion.
- Company Overview: Oceaneering is a global technology company delivering engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, and manufacturing sectors, highlighting its extensive application and technological capabilities across multiple industries.
See More
Israel-Iran Conflict Boosts Energy Stocks Amid Geopolitical Tensions
- Energy Stock Surge: The direct conflict between Israel and Iran briefly pushed Brent crude above $98 per barrel, leading to a rise in energy stocks, although gains moderated during the session, indicating a market repricing of geopolitical risk.
- Overreaction in Markets: Despite President Trump's call for an 'immediate ceasefire', the market's significant response to the escalation in conflict was evident, with energy stocks like Solaris Energy Infrastructure and Oceaneering rising 7.2% and 6.3% respectively, reflecting investor interest in buying high-quality stocks.
- Solaris Energy Infrastructure Update: Solaris Energy Infrastructure's shares have surged 48.3% year-to-date, trading at $74.51, close to its 52-week high of $78.58, demonstrating market confidence in its future performance despite high volatility.
- Investor Sentiment Shift: With a strong jobs report and potential progress in US-Iran negotiations, investors reduced their exposure to energy stocks ahead of any deal announcement, indicating a cautious approach towards future investment returns.
See More
