Thu, Apr 18th 2024
Transocean Ltd. successfully finalises cash tender offers for its 2027 and 2025 Senior Notes.
Transocean Ltd. announced on April 18, 2024, the results of its tender offers for outstanding Senior Notes, executed by its subsidiary, Transocean Inc claims reports. These offers targeted all outstanding 11.50% Senior Guaranteed Notes due 2027 and 7.25% Senior Notes due 2025, initiated on April 11.
The offers saw a total of $844,367,000 in notes tendered by the April 17 deadline, comprising $594,948,000 of the 2027 notes and $249,419,000 of the 2025 notes, excluding $1,221,000 under guaranteed delivery.
Transocean will accept all tendered notes, with same-day fund payments made on April 18. Notes under guaranteed delivery will be settled by April 22. This financial maneuver is part of Transocean’s strategy to optimise its debt portfolio.
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