U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Chavkin Arnold L.
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(Last) (First) (Middle)
Chase Equity Associates, LLC ("CEA, LLC")(FN's 1,2)
c/o Chase Capital Partners
380 Madison Avenue-12th Floor
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(Street)
New York New York 10017
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(City) (State) (Zip)
R&B Falcon Corporation ("FLC")
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2. Issuer Name and Ticker or Trading Symbol
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
February 2000
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4. Statement for Month/Year
March 9, 2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[_] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock N/A N/A N/A N/A N/A 10,621 D
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Common Stock N/A N/A N/A N/A N/A 656,444 I (FN 1)
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Senior Cumulative Redeemable
Preferred Stock 4/23/99 P 25,000 A $840.05 25,935 I (FN 1)
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Senior Cumulative Redeemable
Preferred Stock 8/1/99 J (FN 3) 935 A N/A 25,935 I (FN 1)
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/99)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common
Warrants $9.50 4/23/99 P 25,000 Immed 5/1/09 Stock 875,000 159.95 25,000 I (FN 1)
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</TABLE>
Explanation of Responses:
(1) A portion of the amounts shown may be deemed attributable to the reporting
person because the reporting person is a partner of Chase Capital Partners
("CCP"), which is the manager, by delegation, of Chase Equity Associates,
LLC ("CEA, LLC") pursuant to an advisory agreement with CEA, LLC's sole
member, CCP-CMC Consolidating, LLC ("Consolidating"). The actual pro rata
portion of such beneficial ownership that may be deemed attributable to the
reporting person is not readily determinable because it is subject to
variables, including internal rate of return and vesting of interests with-
in CCP and CEA, LLC.
(2) Prior to an internal reorganization effective as of January 1, 2000, the
securities were beneficially owned by Chase Equity Associates, LP
("CEA, LP"). The internal reorganization changed CEA, LP's name and form
of organization but did not alter the proportionate interests of its
ultimate security holders.
(3) Payable in kind dividend grant.
/s/ Arnold L. Chavkin 6/9/00
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Arnold L. Chavkin Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.