Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-179021
September 24, 2014
$625,000,000 4.50% Senior Notes due 2024 (the “2024 Notes”)
$625,000,000 5.75% Senior Notes due 2044 (the “2044 Notes”)
This term sheet relates only to the notes referenced above (the “notes”) and should be read together with the preliminary prospectus supplement dated September 24, 2014 (including the documents incorporated by reference therein and the accompanying prospectus dated January 13, 2012) relating to the offering before making a decision in connection with an investment in the notes. The information in this term sheet supersedes the information in the preliminary prospectus supplement to the extent that it is inconsistent therewith.
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Issuer: |
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Ensco plc | ||
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Expected Ratings*: |
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Baa1 / BBB+ (Moody’s / S&P) | ||
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Trade Date: |
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September 24, 2014 | ||
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Expected Settlement Date: |
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September 29, 2014 (T+3) | ||
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Security Type: |
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Senior unsecured notes | ||
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Offering Format: |
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SEC registered | ||
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2024 Notes |
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2044 Notes |
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Principal Amount: |
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$625,000,000 |
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$625,000,000 |
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Maturity Date: |
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October 1, 2024 |
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October 1, 2044 |
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Coupon: |
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4.50% |
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5.75% |
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Interest Payment Dates: |
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April 1 and October 1, commencing April 1, 2015 |
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April 1 and October 1, commencing April 1, 2015 |
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Interest Record Dates: |
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March 15 and September 15 |
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March 15 and September 15 |
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Benchmark US Treasury: |
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2.375% due August 15, 2024 |
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3.375% due May 15, 2044 |
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Benchmark US Treasury Price: |
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98-10+ |
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101-24+ |
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Benchmark US Treasury Yield: |
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2.567% |
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3.281% |
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Spread to Benchmark US Treasury: |
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+ 195 basis points |
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+ 250 basis points |
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Reoffer Yield: |
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4.517% |
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5.781% |
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Public Offering Price: |
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99.864% |
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99.560% |
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Redemption Provisions: |
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Make-Whole Call: |
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Treasury Rate plus 30 basis points prior to July 1, 2024 |
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Treasury Rate plus 40 basis points prior to Apri1 1, 2044 |
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Par Call: |
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On or after July 1, 2024 |
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On or after April 1, 2044 |
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CUSIP/ISIN: |
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29358Q AC3 / US29358QAC33 |
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29358Q AD1 / US29358QAD16 |
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Denominations: |
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Minimum of $2,000 and integral multiples of $1,000 in excess of $2,000 | ||
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Joint Book-Running Managers: |
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Citigroup Global Markets Inc. Deutsche Bank Securities Inc. DNB Markets, Inc. Goldman, Sachs & Co. HSBC Securities (USA) Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated Wells Fargo Securities, LLC | ||
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Co-Managers: |
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BNP Paribas Securities Corp. Mitsubishi UFJ Securities (USA), Inc. Mizuho Securities USA Inc. Standard Chartered Bank Morgan Stanley & Co. LLC ANZ Securities, Inc. Credit Suisse Securities (USA) LLC | ||
* 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.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Citigroup Global Markets Inc. at 1-800-831-9146 or by calling Deutsche Bank Securities Inc. at 1-800-503-4611.