05 05 2016

Ensco PLC completed its placing of ordinary shares to raise approx $606 million

Slaughter and May advised Ensco PLC on a placing of ordinary shares to raise approximately $606 million.


The placing, which closed on 20 April 2016, was underwritten by Morgan Stanley and Goldman Sachs and included a 15% over-allotment option that was exercised by the underwriting banks. Goldman, Sachs & Co., Morgan Stanley & Co. LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., DNB Markets, Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC are acting as book-running managers for the offering. Ensco plc is a global offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. The Company operates in three segments: Floaters, which includes its drill ships and semisubmersible rigs; Jackups and Other, which consists of management services on rigs owned by third-parties. Slaughter and May worked with Baker Botts who advised Ensco on US law aspects. Davis Polk advised the underwriting banks. Slaughter and May advised Ensco PLC on the deal with a Corporate team led by Hywel Davies (partner, in picture) and Chris McGaffin (partner), assisted by Emma Plaxton (associate) and Chris Connolly (associate); on Tax matters acted William Watson (partner) and Homyar Pahlan (associate). Davis Polk advised the underwriting banks with a corporate team led by partners Michael Kaplan and Simon Witty, assisted by counsel Marcel Fausten, European counsel Simon J Little and associates Milson C. Yu and Nathan R. Schuur. The tax team included partner Jonathan Cooklin, counsel Alon Gurfinkel and associates Omer Harel and Dominic Foulkes. Involved fees earner: Hywel Davies - Slaughter and May; Chris McGaffin - Slaughter and May; Emma Plaxton - Slaughter and May; Chris Connolly - Slaughter and May; William Watson - Slaughter and May; Homyar Pahlan - Slaughter and May; Michael Kaplan - Davis Polk & Wardwell; Simon Witty - Davis Polk & Wardwell; Marcel Fausten - Davis Polk & Wardwell; Simon Little - Davis Polk & Wardwell; Milson C. Yu - Davis Polk & Wardwell; Nathan Schuur - Davis Polk & Wardwell; Jonathan Cooklin - Davis Polk & Wardwell; Alon Gurfinkel - Davis Polk & Wardwell; Omer Harel - Davis Polk & Wardwell; Dominic Foulkes - Davis Polk & Wardwell;

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