Transocean issues $500M 7.875% notes due 2032; upsizes tender offer to $100M

Transocean Ltd.

Issued $500M senior priority guaranteed notes at 7.875% due Oct 2032; interest semi-annual from Apr 2026.
Tender offer upsized from $50M to $100M to repurchase 2041 (9.35% step-up) and 2028 notes.
Early tender: $89M of 2041 notes accepted (50.21% of outstanding); 2028 notes prorated at 13.17% ($15.8M accepted).
Settlement on Oct 16, 2025; proceeds from new notes used to fund tender.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Transocean Ltd. incurred senior notes of $500 million with Truist Bank at 7.875% per annum maturing October 15, 2032.

Instrument: senior notes
Principal: $500 million
Counterparty: Truist Bank
Rate: 7.875% per annum
Maturity: October 15, 2032
Event: incurrence

Exact text from the filing

On October 15, 2025, in connection with the closing of the previously announced offering (the “Offering”) by Transocean International Limited, a Bermuda exempted company limited by shares (the “Company”) and a wholly owned subsidiary of Transocean Ltd., of $500 million in aggregate principal amount of 7.875% Senior Priority Guaranteed Notes due 2032

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Transocean Ltd. filing history →

Source: SEC EDGAR

accession 0001451505-25-000113

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