Parker Drilling Co. (PKD) priced a private placement of $360 million, in aggregate principal amount, of its senior notes due 2022 at par, the company said Jan. 7. The notes have a yield to maturity of 6.750%, the company said. The pricing offering should close Jan. 22, subject to closing conditions, the company added.
Net proceeds from the offering will fund part of a previous tender offer for outstanding 9.125% senior notes, due 2018, and related costs, the company added.
Houston-based Parker Drilling provides drilling solutions to the energy industry worldwide.