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Hercules Offshore, Inc. Message Board

  • vw500kmiles vw500kmiles Jun 24, 2013 11:56 AM Flag

    the math?

    65 m shares $2.40/sh = $156M .... how come the news said == quote

    to offer, in a private placement, up to $400,000,000 aggregate principal amount of senior notes due 2021. Hercules Offshore expects to use the net proceeds from the offering, together with cash on hand (including the proceeds of approximately $104 million it expects to receive from the sales of its inland barge rigs, domestic liftboats and related assets), to fund its acquisitions of shares of Discovery Offshore S.A. and the final payment of $333.9 million due for Discovery Triumph and Discovery Resilience.

    Sentiment: Hold

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    • my message got chopped off....

      Continue :

      I figured out now, $333.9M is final payment dues to the shipyard.

      So, it is all paid off, what is the day rate for new high specification rigs, tofu? We might have big profit "IF" the $400M notes interest is lower. Maintenance of a new rig is zip low anyway. EPS increases by ???

      Anyway it should be very sweet as said.

      Sentiment: Hold

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