Transocean Ltd. Announces Early Results of Cash Tender Offers and Extends Offer of Total Consideration Through Expiration Time

Nachrichtenquelle: globenewswire
27.10.2020, 04:48  |  211   |   |   

STEINHAUSEN, Switzerland, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today on behalf of Transocean Inc., its wholly-owned subsidiary (the “Company” and, together with Transocean Ltd., “Transocean”), the results to date of the Company’s previously announced tender offers (collectively, the “Offers” and each, an “Offer”) to purchase for cash (i) any and all of its outstanding 6.500% Senior Notes due 2020 (the “2020 Notes”) and (ii) up to the Maximum Amount (as defined below) of (a) its outstanding 6.375% Senior Notes due 2021 (the “2021 Notes”), 3.800% Senior Notes due 2022 (the “2022 Notes”) and 7.250% Senior Notes due 2025 (the “2025 Notes”) and (b) the 5.375% Senior Secured Notes due 2023 issued by Transocean Sentry Limited, a wholly-owned subsidiary of Transocean Ltd. (the “Sentry Notes” and, collectively with the 2021 Notes, the 2022 Notes and the 2025 Notes, the “Capped Notes” and, collectively with the 2020 Notes, the “Notes” and, each series, a “series of Notes”), in each case, from holders thereof (collectively, the “Holders” and each, a “Holder”). The Aggregate Purchase Price (as defined below) for Capped Notes validly tendered (and not validly withdrawn) and accepted for purchase pursuant to the Offers will not exceed $200.0 million (subject to increase or decrease by the Company in its sole discretion, subject to applicable law, the “Maximum Amount”). The Offers are being made pursuant to an Offer to Purchase, dated October 13, 2020 (the “Offer to Purchase”).

According to information received from D.F. King & Co., Inc., the tender agent and information agent for the Offers, as of 5:00 p.m., New York City time, on October 26, 2020 (the “Early Tender Time”), $347,638,000 aggregate principal amount of Notes had been validly tendered, consisting of the following Notes:


Title of Notes   CUSIP Number(2)   Principal Amount Outstanding Prior to Tender Offers   Aggregate Principal Amount of Notes Tendered   Acceptance Priority Level(3)   Total Consideration(4)

6.500% Senior Notes due 2020
  893830 AY5   $190,885,000   $36,299,000   Any and All   $970.0
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Transocean Ltd. Announces Early Results of Cash Tender Offers and Extends Offer of Total Consideration Through Expiration Time STEINHAUSEN, Switzerland, Oct. 26, 2020 (GLOBE NEWSWIRE) - Transocean Ltd. (NYSE: RIG) announced today on behalf of Transocean Inc., its wholly-owned subsidiary (the “Company” and, together with Transocean Ltd., “Transocean”), the results to date …

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