HOUSTON, Dec. 8 /PRNewswire/ -- R&B Falcon Corporation (NYSE: FLC)
announced today that it proposes to make a private placement of an aggregate
of $400 million of new debt securities. These securities will be unsecured
notes of R&B Falcon in different series having various principal amounts and
maturities to be determined. The purpose of the offering is to raise funds to
repay existing bank debt and for planned capital expenditures and general
corporate purposes.
The proposed new debt securities will not be registered under the
Securities Act of 1933, as amended, or any state securities laws and may not
be offered or sold in the United States absent registration or an applicable
exemption from registration requirements. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful.
This press release includes forward-looking statements regarding the
present intentions and expectations of management of the Company. Certain
factors beyond the Company's control could cause the Company's results to
differ materially from those in these forward-looking statements. These
factors include financial market conditions and prevailing interest rates, oil
and gas prices, and industry conditions in the oil and gas industry generally
and in the offshore contract drilling industry, operations risks inherent in
the Company's business, and government regulation and environmental matters.
SOURCE R&B Falcon Corporation
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Related links:
http://www.rbfalcon.com
Company News On-Call:
http://www.prnewswire.com/comp/118988.html or fax,
800-758-5804, ext. 118988
CONTACT:
Leighton E. Moss of R&B Falcon Corporation,
281-496-5000
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