SOURCE: Willbros Group, Inc.

November 15, 2007 00:02 ET

Willbros Announces Pricing of Follow-On Common Stock Offering

HOUSTON, TX--(Marketwire - November 15, 2007) - Willbros Group, Inc. (NYSE: WG) announced today that it has priced a public offering of 6,875,000 shares of its common stock at $34.00 per share. All of the shares to be sold are primary shares. In addition, the Company has granted an option to the underwriters to purchase up to an additional 1,031,250 shares at the offering price to cover over-allotments, if any.

Net proceeds from the offering, after deducting underwriting discounts and offering expenses, are expected to be $219.3 million. The Company intends to use the net proceeds from the offering to fund the cash portion of the acquisition of Integrated Service Company LLC (approximately $200 million), to invest in capital equipment to support the Company's growing project backlog, and for general corporate purposes, including business expansion and possible acquisitions of assets and businesses.

UBS Investment Bank and Credit Suisse are serving as joint book-running managers for the offering. Calyon Securities (USA) Inc., Bear, Stearns & Co. Inc., D. A. Davidson & Co. and Natixis Bleichroeder Inc. are acting as co-managers. A copy of the final prospectus relating to the offering may be obtained from UBS Investment Bank, 299 Park Avenue, New York, New York 10171, telephone 888-827-7275, and Credit Suisse, Eleven Madison Avenue, New York, New York 10010, telephone 800-221-1037.

Willbros Group, Inc. is an international contractor serving the energy industries, providing engineering, construction, engineering, procurement and construction ("EPC"), and operations and maintenance services to industry and government entities worldwide.

Contact Information


    Michael W. Collier
    Vice President
    Investor Relations
    Willbros USA, Inc.
    (713) 403-8016

    Connie Dever
    Strategic Planning
    Willbros USA, Inc.
    (713) 403-8035