QGOG Constellation, which is based in Luxembourg and Rio de Janeiro, is looking to raise up to $500m when it lists shares under the ticker “QGOG”.
According to a prospectus filed with the US Securities and Exchange Commission (SEC) proceeds will be used to cover down payments on a pair of ultra-deepwater drillships, general corporate expenditures and what it described as “new and existing projects”.
“QGOG Constellation’s common shares are expected to commence trading after the SEC completes its review process and the offering is consummated,” it added in a statement that followed the regulatory filing.
JP Morgan, Bank of America Merrill Lynch and Itau BBA will serve as global coordinators if all goes according to plan while Credit Suisse and Bradesco BBI will act as joint bookrunners, according to the prospectus.
QGOG made TradeWinds headlines late last year when it exercised an option to construction a deepwater drillship at Samsung Heavy Industries of South Korea in a deal worth $586.4m. Delivery is due in December of 2014.
Including the newbuilding, the company’s fleet includes more than a dozen ultra-deepwater drilling rigs. In addition, it boasts investments in four floating production, storage and offloading units, according to its website.
You can read the 3,000 page prospectus in full by clicking on the link located under the Related Media section to the right of this article
