Hercules Offshore Prices Private Placement of Senior Secured Notes

Hercules Offshore has priced a private placement of $300 million of Senior Secured Notes due 2017, which will bear interest at a rate of 10.5% per annum. The notes are being sold at 97.383% of their face amount to yield 11.0%. The offering is expected to close on or about October 20, 2009, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering to repay a portion of the indebtedness outstanding under its term loan facility.


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