Latham Advises on Diamond Offshore Drilling’s Upsized US$550 Million Private Placement of Senior Secured Second Lien Notes

Diamond Foreign Asset Company and Diamond Finance, LLC, wholly owned subsidiaries of Diamond Offshore Drilling, Inc., priced their upsized offering of US$550 million aggregate principal amount of 8.500% Senior Secured Second Lien Notes due 2030.

Latham & Watkins LLP represents the initial purchasers in the transaction with a corporate deal team led by Houston partner Ryan Maierson and Austin partner David Miller, with associates Om Pandya, Zainab Hashmi, Wole Oluborode, Natasha Kalaouze, and Dalyn Dessaure. Advice was also provided on finance matters by Houston partner Pamela Kellet, with associate Kirby Swartz; on tax matters by Houston partner Jim Cole, with associate Dylan White; on executive compensation, employment, and benefits matters by Houston counsel Krisa Benskin; on environmental matters by Houston/Los Angeles partner Joshua Marnitz; and on sanctions matters by Washington, D.C. partner Eric Volkman, with associate Julie Shin*.

*Only admitted to practice in the District of Columbia