Transocean lifts revolver to $750M, extends maturity to 2031; retires $165M Aquila notes

Transocean Ltd.

Subsidiary Transocean International Limited signed an amended and restated credit agreement with Citibank, N.A. on October 15, 2026.
Revolver commitments rise to $750M from $510M and maturity extends to October 2031 from June 2028; facility was oversubscribed in syndication.
Effectiveness is conditioned on closing Transocean's previously announced acquisition of Valaris Limited; lender commitments auto-terminate if conditions unmet by May 9, 2027.
Transocean retired the 8.00% Senior Secured Notes due 2028 in full on October 1, 2026, paying $165M principal plus call premium and accrued interest.
The Aquila Notes payoff was funded with cash on hand and the debt service reserve account, saving roughly $22M of interest expense to maturity.

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