UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of Report (Date of earliest event reported): June
21, 2005
ROWAN
COMPANIES, INC.
(Exact
name of registrant as specified in its charter)
|
DELAWARE |
1-5491 |
75-0759420 |
|
(State or other jurisdiction |
(Commission file Number) |
(IRS Employer |
|
of incorporation) |
|
Identification No.) |
|
2800 POST OAK BOULEVARD |
|
|
SUITE 5450 |
|
|
HOUSTON, TEXAS |
77056-6127 |
|
(Address of principal executive offices) |
(zip code) |
(713)
621-7800
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following
provisions:
[
] Written communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR
14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240-14d-2(b))
[
] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240-13e-4(c))
Item
1.01. Entry into a Material Definitive Agreement
On
June 15, 2005, the Company announced the refinancing of $85.1
million of outstanding floating-rate debt through the issuance of a 4.33%
fixed-rate note maturing in May 2019. The fixed-rate note is U.S.
Government-guaranteed and the Scooter Yeargain secures the guarantee
obligation. The note requires semi-annual payments of principal and interest
commencing in November 2005. A press release dated June 15, 2005
entitled
"Rowan Completes Long-Term 4.33% Debt Refinancing" is attached as Exhibit
99.1.
Item
2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
The
information pursuant to Item 2.03 is incorporated by reference
from Item 1.01.
Item
8.01. Other Events
The
following information is disclosed pursuant to Item 8.01 - Other
Events:
| A schedule summarizing the Offshore Rig Utilization of Rowan Companies, Inc. for May 2005 is attached as Exhibit 99.2. |
Item
9.01. Financial Statements and Exhibits
(c)
Exhibits
|
Exhibit
|
|
|
|
Number
|
Exhibit
Description
|
|
|
99.1
|
Press release of Rowan Companies, Inc. dated June 15, 2005 | |
|
99.2
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
ROWAN COMPANIES, INC.
By:
/s/ W. H. Wells
W. H. Wells,
Vice President - Finance and Treasurer (Principal Financial
Officer)
Dated:
June 21, 2005
INDEX
TO EXHIBITS
EXHIBIT
DESCRIPTION
|
Exhibit
|
|
|
|
Number
|
Exhibit
Description
|
|
|
99.1
|
Press release of Rowan Companies, Inc. dated June 15, 2005 | |
|
99.2
|
-2-