Vantage Drilling Announces Proposed Offering of $960.0 Million of Senior Secured Notes

- July 22nd, 2010

Vantage Drilling Company (NYSE Amex: VTG.U) (NYSE Amex: VTG) (NYSE Amex: VTG.WS) announced that its wholly-owned subsidiary Offshore Group Investment Limited intends to offer, subject to market and other conditions, $960.0 million in aggregate principal amount of Senior Secured Notes due 2015.

Vantage Drilling Company (NYSE Amex: VTG.U) (NYSE Amex: VTG) (NYSE Amex: VTG.WS) announced that its wholly-owned subsidiary Offshore Group Investment Limited intends to offer, subject to market and other conditions, $960.0 million in aggregate principal amount of Senior Secured Notes due 2015.

The press release is quoted as saying:

In addition, as previously announced, Vantage has signed a definitive purchase agreement to acquire the remaining 55% interest in Mandarin Drilling Corporation (the owner of the construction contract for the Platinum Explorer) that it does not own from F3 Capital (the “Acquisition”). Concurrently with the consummation of this offering, Vantage intends to make a public offering of its ordinary shares.

Click here to access the entire press release

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