Transocean Ltd. Announces Proposed Private Offering of Senior Priority Guaranteed Notes Due 2032

Core Viewpoint - Transocean Ltd. has initiated a private offering of $500 million in Senior Priority Guaranteed Notes due 2032 to refinance existing debt and fund a cash tender offer for certain outstanding notes [1][2]. Group 1: Notes Offering Details - The offering consists of $500 million aggregate principal amount of Senior Priority Guaranteed Notes due 2032, guaranteed on a senior unsecured basis by Transocean Ltd. and certain subsidiaries [1]. - The timing and terms of the Notes are contingent on market conditions [2]. - Proceeds from the offering will be used to refinance the remaining principal of 8.00% Senior Notes due February 2027 and 6.875% Senior Secured Notes due 2027, as well as to fund a cash tender offer for up to $50 million of outstanding 7.35% Senior Notes due December 2041 and 7.00% Notes due June 2028 [2]. Group 2: Company Overview - Transocean is a leading international provider of offshore contract drilling services, focusing on ultra-deepwater and harsh environment drilling [5]. - The company operates a fleet of 27 mobile offshore drilling units, including 20 ultra-deepwater floaters and seven harsh environment floaters [6].