Transocean Ltd. Announces Early Results of Cash Tender Offers and Extends Offer of Total Consideration Through Expiration Time - Seite 2

Nachrichtenquelle: globenewswire
27.10.2020, 04:48  |  222   |   |   


6.375% Senior Notes due 2021(1)
  893830 BB4   $115,973,000   $75,757,000   1   $700.0
3.800% Senior Notes due 2022(1)
  893830 BC2   $37,739,000   $9,168,000   2   $550.0
5.375% Senior Secured Notes due 2023
  89385AAA3 / G9007CAA8   $503,509,000   $102,897,000   3   $650.0
7.250% Senior Notes due 2025
  893830 BK4 / G90073AD2   $542,901,000   $123,517,000   4   $430.0

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(1) The interest rate for the 2021 Notes and 2022 Notes has been increased to 8.375% and 5.800%, respectively, pursuant to the terms of the indentures governing such notes.
(2) No representation is made as to the correctness or accuracy of the CUSIP numbers listed in the Offer to Purchase or printed on the Notes. They are provided solely for convenience.
(3) The Maximum Amount of Capped Notes that may be purchased in the Offers is the aggregate amount of Capped Notes that will not result in the Aggregate Purchase Price for Capped Notes validly tendered and accepted for purchase pursuant to the Offers to exceed $200.0 million. The Company reserves the right, in its sole discretion, subject to applicable law, to increase or decrease the Maximum Amount, but there can be no assurance that the Company will do so. Capped Notes accepted for purchase on any Settlement Date will be accepted in accordance with their Acceptance Priority Levels set forth herein (with “1” being the highest Acceptance Priority Level and “4” being the lowest Acceptance Priority Level). The Company will only accept for purchase Capped Notes up to an aggregate principal amount that will not result in the Aggregate Purchase Price to exceed the Maximum Amount. The “Aggregate Purchase Price” refers to the aggregate amount of Total Consideration that Holders of Capped Notes are entitled to receive, excluding accrued interest, for Capped Notes that are validly tendered and accepted for purchase by the Company. For the avoidance of doubt the Offer with respect to the 2020 Notes is not subject to the Maximum Amount or the Acceptance Priority Levels and any 2020 Notes validly tendered and accepted for purchase pursuant to the such Offer will be purchased on the applicable Settlement Date.
(4) Consideration in the form of cash per $1,000 principal amount of Notes that are validly tendered and accepted for purchase, subject to any rounding. Excludes accrued interest, which will be paid in cash in addition to the applicable Total Consideration.

The Company intends to accept all of the Notes validly tendered at or prior to the Early Tender Time, and will pay the applicable Total Consideration for each series of such accepted Notes, together with accrued and unpaid interest on such Notes from the last interest payment date with respect to the Notes to, but not including, the initial settlement date, which is expected to be on October 27, 2020 (the “Early Settlement Date”), subject to all conditions to the Offer having been either satisfied or waived by the Company. The deadline for holders to validly withdraw tenders of Notes has passed. Accordingly, Notes that were already tendered at or before the Early Tender Time may not be withdrawn, unless the Company is required to provide withdrawal rights under applicable law. As of the Early Tender Time, the Aggregate Purchase Price of Capped Notes validly tendered was approximately $178 million.

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Transocean Ltd. Announces Early Results of Cash Tender Offers and Extends Offer of Total Consideration Through Expiration Time - Seite 2 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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