Transocean Ltd. Announces Pricing of U.S. $750 Million of Senior Unsecured Notes due 2027

Source Press Release
Company Transocean Ltd. 
Tags Debt Financing, Financing
Date January 08, 2020

Transocean Ltd. (NYSE: RIG) announced today that Transocean Inc., its wholly-owned subsidiary (collectively with  Transocean Ltd., “Transocean”), has priced its previously-announced offering of U.S. $750 million aggregate principal amount of senior unsecured notes due 2027 (the “Notes”) to eligible purchasers pursuant to Rule 144A/Regulation S. The Notes will be fully and unconditionally guaranteed by Transocean Ltd. and certain of Transocean Inc.’s subsidiaries.

The Notes will bear interest at the rate of 8.0% per annum. The offering is expected to close on or about January 17, 2020, subject to customary closing conditions. Transocean intends to use the net proceeds from this offering to refinance, repurchase and/or redeem certain of its existing indebtedness in one or more transactions, and/or for general corporate purposes.

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