Diamond Offshore Drilling, Inc. · Corporate
Diamond Offshore Drilling, Inc.: bankruptcy, 2020
Diamond Offshore Drilling, Inc.: bankruptcy credit event on 2020-04-26, worked through from its SEC filings. The 7.875% Senior Notes due 2025 (CUSIP 25271CAP7) are a Deliverable Obligation: all 7 checks pass. Each result cites the clause behind it, or says when it rests on the absence of a clause.
Verified answerDiamond Offshore Drilling, Inc. · Bankruptcy · 2020
Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?
Yes, deliverable
7.875% Senior Notes due 2025 pass all 7 checks, each tied to its clause.
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Verified outcome
Basis. All 7 checks pass on the record: the issuer is the Reference Entity, the instrument meets the Maximum Maturity, Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics, and it is Not Contingent.
Source clauses
Ninth Supplemental Indenture of 2017-08-15
- Reference entity
- Diamond Offshore Drilling, Inc.
- Credit event
- Bankruptcy · 2020-04-26
- Entity type
- Corporate
- Documents
- 2 in the record
Instruments
Each obligation has its own page with terms and questions.
- 7.875% Senior Notes due 2025Eligible
Diamond Offshore Drilling, Inc. · CUSIP 25271CAP7
8 questions
Questions and verified answers
Open a question for the verified answer, its basis and how it was checked. Clause links open the documents below.
- #1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?Eligible
Ninth Supplemental Indenture of 2017-08-15
- #2 Does the instrument meet the Maximum Maturity characteristic (30 years)?Yes
Ninth Supplemental Indenture of 2017-08-15
- #3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?Yes
Ninth Supplemental Indenture of 2017-08-15
- #4 Does the instrument meet the Not Subordinated characteristic?Yes
Ninth Supplemental Indenture of 2017-08-15
- #5 Does the instrument meet the Not Bearer characteristic?Yes
Ninth Supplemental Indenture of 2017-08-15
- #6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?YesNone: no clause making principal contingent was found.
- #7 Does the instrument meet the Transferable characteristic?YesNone: no clause restricting transfer was found.
- #8 Is the issuer of the instrument the Reference Entity?Yes
Ninth Supplemental Indenture of 2017-08-15
Documents
The case record. 9 sections support the verified answers.
- DOC-1 Diamond Offshore 8-K filed 2020-04-27, Item 1.03 Bankruptcy, petition 2020-04-26excerpts
- DOC-2 Ninth Supplemental Indenture dated August 15, 2017, 7.875% Senior Notes due 2025 (EX-4.2)excerpts
Timeline
- 2017-08-15Ninth Supplemental Indenture for the 7.875% Senior Notes due 2025 (filed as Exhibit 4.2).
- 2020-04-26Diamond Offshore Drilling, Inc. and certain subsidiaries file voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of Texas.
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