Diamond Offshore Announces Pricing of $550 Million Upsized Private Placement of 8.500% Senior Secured Second Lien Notes Due 2030

HOUSTON, Sept. 12, 2023 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) and its wholly-owned subsidiaries, Diamond Foreign Asset Company and Diamond Finance, LLC (together, the "Issuers"), announced today the pricing of the Issuer's private placement (the "Offering") under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"), of $550 million in aggregate principal amount of 8.500% Senior Secured Second Lien Notes due 2030 (the "Notes"). The Offering was upsized to $550 million from the original offering size of $500 million in aggregate principal amount of Notes. The Notes will mature on October 1, 2030 and will be issued at par. The Offering is expected to close on September 21, 2023, subject to customary closing conditions.