Oil States International’s $135 Million Convertible Senior Notes Offering

Simpson Thacher represented the initial purchasers in the offering.

Oil States International, Inc. (“Oil States”) executed its offering of an aggregate principal amount of $135 million 4.75% Convertible Senior Notes due 2026. Oil States also granted the initial purchasers a 13-day option to purchase up to an additional $15 million of notes.

Oil States used a portion of the net proceeds from the offering to fund the concurrent repurchase of a portion of its outstanding 1.5% convertible senior notes due 2023. Oil States intends to use the remaining net proceeds for general corporate purposes.

The Initial Purchasers included Wells Fargo Securities, LLC, BofA Securities, Inc., Raymond James & Associates, Inc., J.P. Morgan Securities LLC and RBC Capital Markets, LLC.

Oil States is a global provider of manufactured products and services to customers in the oil and natural gas, industrial and military sectors. The company’s manufactured products include highly engineered capital equipment and consumable products. Oil States is headquartered in Houston, Texas with manufacturing and service facilities strategically located across the globe.

The Simpson Thacher team included Roxane Reardon, Brian E. Rosenzweig, Lia Toback and Frances Fuqua (Capital Markets); Andrew Purcell, Tyler Robbins and Scott Grundei (Tax); Adeeb Fadil and Tim Mulvihill (Environmental); Jeanne Annarumma and Pasco Struhs (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Frances Fuqua – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Roxane Reardon – Simpson Thacher & Bartlett; Tyler Robbins – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett; Pasco Struhs – Simpson Thacher & Bartlett; Lia Toback – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Bank of America Securities; J.P. Morgan Securities LLC; Raymond James & Associates, Inc.; RBC Capital Markets; Wells Fargo Securities;

Author: Martina Bellini