Transocean Ltd. Announces Early Tender Results and Upsizing of Cash Tender Offer

Core Viewpoint - Transocean Ltd. has announced an increase in its cash tender offer for certain senior notes, raising the maximum purchase price from $50 million to $100 million, reflecting strong interest from noteholders [2][10]. Group 1: Tender Offer Details - The tender offer is aimed at purchasing up to an aggregate principal amount of the outstanding 7.35% Senior Notes due December 2041 and 7.00% Notes due June 2028 [1][2]. - As of the Early Tender Date, approximately $88.998 million (50.21%) of the 2041 Notes and $120.628 million (46.18%) of the 2028 Notes were validly tendered [3]. - The company accepted all validly tendered 2041 Notes and will accept 2028 Notes on a pro rata basis, with a proration factor of approximately 13.17% [3][10]. Group 2: Financial Terms - The Total Tender Offer Consideration for the 2041 Notes is $950.00 per $1,000 principal amount, while for the 2028 Notes, it is $980.00 per $1,000 principal amount [5][8]. - The company expects to pay the Total Tender Offer Consideration on all validly tendered notes with proceeds from a New Notes Offering [12]. Group 3: Timeline and Conditions - The tender offer will expire on October 29, 2025, unless extended or terminated earlier [10]. - Holders of notes who tendered before the Early Tender Date may no longer withdraw their notes, except under limited circumstances [11].