Rowan Proposes $375MM Senior Notes Offering

Rowan Companies intends to offer, subject to market and other conditions, $375 million of senior unsecured notes through a registered public offering. The notes will bear interest at a fixed rate and will mature in 2019.

The notes offering and sale will be made under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on July 15, 2009. The proceeds from the notes offering will be used for general corporate purposes.