Transocean Prices $500M Notes to Refinance Debt
Transocean International Limited has announced a significant financial move. On September 30, 2025, the company revealed that Goldman Sachs & Co. LLC will price a private placement of $500 million in Senior Priority Guaranteed Notes due 2032. The notes, bearing an interest rate of 7.875% per annum, are set to close on or around October 15, 2025.
The tender offer is subject to the terms outlined in the official offer to purchase, dated September 30, 2025. Proceeds from the sale of these notes will be primarily used to refinance or redeem outstanding senior notes. This includes $300 million worth of 8.00% senior notes due February 2027 and $150 million of 6.875% senior secured notes due 2027. Additionally, $50 million will be allocated to fund a tender offer for selected 2041 and 2028 notes with higher coupons, ranging up to 9.35%. Pending their deployment, the proceeds may be temporarily held in short-term investments.
Transocean, through its subsidiary, has successfully priced a $500 million private offering of Senior Priority Guaranteed Notes due 2032. This move is expected to help the company manage its debt obligations and potentially improve its financial position.
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