---
schema_version: "secwatch.filing_event.v1"
accession: "0001451505-23-000008"
form_type: "8-K"
ticker: "RIG"
cik: "0001451505"
company_name: "Transocean Ltd."
filed_at: "2023-01-17T23:59:59+00:00"
generated_at: "2026-06-20T14:39:55.185940+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Transocean subsidiary issues $525M 8.375% senior secured notes due 2028

## Summary
- Issued $525M in 8.375% senior secured notes due 2028 by wholly-owned subsidiary Transocean Titan Financing Limited.
- Notes are secured by a lien on the Deepwater Titan rig and certain related assets.
- Guaranteed on a senior basis by Transocean Ltd., Transocean Inc., and Triton Titan GmbH.
- Offered privately under Rule 144A and Regulation S; not registered under the Securities Act.

## SEC filing metadata
- accession: 0001451505-23-000008
- form_type: 8-K
- ticker: RIG
- cik: 0001451505
- company_name: Transocean Ltd.
- filed_at: 2023-01-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000008/0001451505-23-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000008/rig-20230117x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001451505-23-000008
- JSON: https://secwatch.observer/filing/0001451505-23-000008.json
- Plain text: https://secwatch.observer/filing/0001451505-23-000008.txt

## Key facts
- Debt Financings
  Transocean Ltd. incurred senior notes of U.S. $525 million in aggregate principal amount with Truist Bank at 8.375% maturing due 2028.
  - Instrument: senior notes
  - Principal: U.S. $525 million in aggregate principal amount
  - Counterparty: Truist Bank
  - Rate: 8.375%
  - Maturity: due 2028
  - Event: incurrence
  source text: with the closing of the previously-announced offering by Transocean Titan Financing Limited (the “Issuer”), a wholly-owned indirect subsidiary of Transocean Ltd., of U.S. $525 million in aggregate principal amount of 8.375% senior secured notes due 2028 (the “Notes”), the Issuer entered into an indenture (the “Indenture”) with Transocean Ltd., Transocean Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000008/0001451505-23-000008-index.htm
- Material Agreements
  Transocean Ltd. entered into Indenture with Truist Bank valued at U.S. $525 million aggregate principal amount of 8.375% senior secured notes due 2028 (effective 2023-01-17).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Truist Bank
  - Value: U.S. $525 million aggregate principal amount of 8.375% senior secured notes due 2028
  - Effective: 2023-01-17
  source text: On January 17, 2023, in connection with the closing of the previously-announced offering by Transocean Titan Financing Limited (the “Issuer”), a wholly-owned indirect subsidiary of Transocean Ltd., of U.S. $525 million in aggregate principal amount of 8.375% senior secured notes due 2028 (the “Notes”), the Issuer entered into an indenture (the “Indenture”) with Transocean Ltd., Transocean Inc. (“TINC”) and Triton Titan GmbH (collectively, the “Guarantors”) and Truist Bank, as trustee and collateral agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451505/000145150523000008/0001451505-23-000008-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.