Ensco Announces Expiration of Cash Tender Offer

LONDON--()--Ensco plc (NYSE:ESV) announced today that its previously announced cash tender offer to purchase any and all of its outstanding 3.25% Senior Notes due 2016 (CUSIP No. 29358QAB5) expired at 5:00 p.m. New York City time today. At the expiration time, holders had validly tendered and not validly withdrawn in the tender offer $853,050,000 aggregate principal amount of the notes, representing approximately 85.3% of the outstanding aggregate principal amount of the notes, excluding notes tendered through the guaranteed delivery procedures.

Upon the terms and subject to the conditions specified in the Offer to Purchase dated March 4, 2015, Ensco expects to accept for payment all notes validly tendered and not validly withdrawn in the tender offer and expects to make payment for the notes, including notes delivered in accordance with the guaranteed delivery procedures, in same-day funds on March 13, 2015.

Following the closing of the contemporaneous notes offering, Ensco intends to exercise its right to redeem any notes not purchased in the tender offer and that remain outstanding pursuant to the indenture governing the notes.

Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. served as the Dealer Managers for the tender offer. Global Bondholder Services Corporation served as the Depositary and Information Agent for the tender offer.

Ensco is not obligated to undertake any redemption of the notes, and there can be no assurance that it will consummate the tender offer or redeem the notes. The statements of intent herein with respect to the redemption of the notes does not constitute a notice of redemption under the indenture governing the notes. Any notice of redemption with respect to the notes, if made, will only be made in accordance with the indenture governing the notes.

Ensco plc (NYSE: ESV) is a global provider of offshore drilling services to the petroleum industry. Ensco plc is an English limited company (England No. 7023598) with its registered office and corporate headquarters located at 6 Chesterfield Gardens, 3rd Floor, London, United Kingdom W1J 5BQ.

Contacts

Ensco plc
Investor & Media Contacts:
Sean O’Neill, 713-430-4607
Vice President - Investor Relations and Communications

Contacts

Ensco plc
Investor & Media Contacts:
Sean O’Neill, 713-430-4607
Vice President - Investor Relations and Communications