---
schema_version: "secwatch.filing_event.v1"
accession: "0001451505-25-000087"
form_type: "8-K"
ticker: "RIG"
cik: "0001451505"
company_name: "Transocean Ltd."
filed_at: "2025-08-19T23:59:59+00:00"
generated_at: "2026-05-17T11:24:29.593967+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Transocean exchanges $39.7M of 4.0% exchangeable bonds for 13.9M shares

## Summary
- Closed on Aug 19, 2025, exchanging $39.7M principal amount for ~13.9M shares and immaterial accrued interest.
- Approximately $37.3M in aggregate principal of the 4.0% Senior Guaranteed Exchangeable Bonds due 2025 remains outstanding.
- Shares issued in reliance on Section 4(a)(2) exemption; part of capital structure optimization.

## SEC filing metadata
- accession: 0001451505-25-000087
- form_type: 8-K
- ticker: RIG
- cik: 0001451505
- company_name: Transocean Ltd.
- filed_at: 2025-08-19T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451505/000145150525000087/0001451505-25-000087-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451505/000145150525000087/rig-20250819x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001451505-25-000087
- JSON: https://secwatch.observer/filing/0001451505-25-000087.json
- Plain text: https://secwatch.observer/filing/0001451505-25-000087.txt

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