Issuer:
|
Ensco plc | |
Expected Ratings*:
|
Baa1 / BBB+ (Moodys / S&P) | |
Trade Date:
|
March 8, 2011 | |
Expected Settlement Date:
|
March 17, 2011 (T+7) (the Issue Date) | |
We expect that delivery of the notes will be made to investors on or about March 17, 2011, which will be the seventh business day following the date of the prospectus supplement (such settlement being referred to as T+7). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market are required to settle in three business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes prior to the delivery of the notes will be required, by virtue of the fact that the notes initially settle in T+7, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the notes prior to their date of delivery should consult their advisors. | ||
Security Type:
|
Senior unsecured notes | |
Offering Format:
|
SEC registered |
Principal Amount:
|
$1,000,000,000 for the 2016 Notes | |
$1,500,000,000 for the 2021 Notes | ||
Maturity Date:
|
March 15, 2016 for the 2016 Notes | |
March 15, 2021 for the 2021 Notes | ||
Coupon:
|
3.250% for the 2016 Notes | |
4.700% for the 2021 Notes | ||
Interest Payment Dates:
|
March 15 and September 15, commencing September 15, 2011 | |
Benchmark US Treasury:
|
2-1/8% due February 29, 2016 for the 2016 Notes | |
3-5/8% due February 15, 2021 for the 2021 Notes | ||
Benchmark US Treasury
Yield:
|
2.217% for the 2016 Notes | |
3.553% for the 2021 Notes | ||
Benchmark US Treasury
Price:
|
99-18.25 for the 2016 Notes | |
100-19 for the 2021 Notes | ||
Spread to Benchmark US
Treasury:
|
+ 120 basis points for the 2016 Notes | |
+ 140 basis points for the 2021 Notes | ||
Reoffer Yield:
|
3.417% for the 2016 Notes | |
4.953% for the 2021 Notes | ||
Public Offering Price:
|
99.239% for the 2016 Notes | |
98.025% for the 2021 Notes | ||
Optional Redemption:
|
Make-Whole Call at T + 20 bps for the 2016 Notes | |
Make-Whole Call at T + 25 bps for the 2021 Notes | ||
Special Mandatory Redemption: |
If acquisition of Pride International, Inc. is not consummated prior to 5:00 p.m., New York City time, on February 3, 2012, or the merger agreement is terminated at any time before such time but after the date which is six months after the Issue Date, we must redeem the notes at a redemption price equal to 102% of the aggregate principal amount of the notes, plus accrued and unpaid interest to, but excluding, the redemption date. If the merger agreement is terminated at any time before the date which is six months after the Issue Date, we must redeem the notes at a redemption price equal to 101% of the aggregate principal amount of the notes, plus accrued and unpaid interest to, but excluding, the |
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redemption date. | ||
Denominations:
|
Minimum of $2,000 and integral multiples of $1,000 in excess of $2,000 | |
CUSIP/ISIN:
|
29358Q AB5 / US29358QAB59 for the 2016 Notes | |
29358Q AA7 / US29358QAA76 for the 2021 Notes | ||
Joint Book-Running
Managers:
|
Citigroup Global Markets Inc. | |
Deutsche Bank Securities Inc. | ||
Wells Fargo Securities, LLC | ||
Co-Managers:
|
DnB NOR Markets, Inc. | |
BBVA Securities Inc. | ||
HSBC Securities (USA) Inc. | ||
Mitsubishi UFJ Securities (USA), Inc. | ||
Natixis Securities North America Inc. | ||
Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
Lloyds Securities Inc. | ||
* | Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. |
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