---
schema_version: "secwatch.filing_event.v1"
accession: "0001451505-25-000113"
form_type: "8-K"
ticker: "RIG"
cik: "0001451505"
company_name: "Transocean Ltd."
filed_at: "2025-10-15T23:59:59+00:00"
generated_at: "2026-05-17T03:43:12.393626+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001451505-25-000113
- form_type: 8-K
- ticker: RIG
- cik: 0001451505
- company_name: Transocean Ltd.
- filed_at: 2025-10-15T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451505/000145150525000113/0001451505-25-000113-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451505/000145150525000113/rig-20251015x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001451505-25-000113
- JSON: https://secwatch.observer/filing/0001451505-25-000113.json
- Plain text: https://secwatch.observer/filing/0001451505-25-000113.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451505/000145150525000113/0001451505-25-000113-index.htm

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