Transocean Ltd. incurred senior notes of U.S. $1.175 billion with Truist Bank at 8.75% maturing due 2030.
“On January 31, 2023, in connection with the closing of the previously-announced offering by Transocean Inc. (the “Issuer”), a wholly-owned subsidiary of Transocean Ltd., of U.S. $1.175 billion in aggregate principal amount of 8.75% senior secured notes due 2030 (the “Notes”), the Issuer entered into an indenture (the “Indenture”) with (x) Transocean Ltd., (y) certain of the Issuer’s subsidiaries (the “Limited Guarantors” and together with Transocean Ltd., the “Guarantors”) that guarantee the existing (i) 7.75% Senior Secured Notes due 2024 issued by Transocean Phoenix 2 Limited (the “Thalassa Notes”), (ii) 5.875% Senior Secured Notes due 2024 issued by Transocean Guardian Limited (the “Guardian Notes”), (iii) 6.25% Senior Secured Notes due 2024 issued by Transocean Proteus Limited (the “Proteus Notes”) and (iv) 6.125% Senior Secured Notes due 2025 issued by Transocean Pontus Limited (the “Pontus Notes” and collectively, the “Existing Secured Notes”) and (z) Truist Bank, as trustee and”
Material Agreements
Transocean Ltd. entered into Indenture with Truist Bank valued at $1.175 billion (effective 2023-01-31).
“On January 31, 2023, in connection with the closing of the previously-announced offering by Transocean Inc. (the “Issuer”), a wholly-owned subsidiary of Transocean Ltd., of U.S. $1.175 billion in aggregate principal amount of 8.75% senior secured notes due 2030 (the “Notes”), the Issuer entered into an indenture (the “Indenture”) with (x) Transocean Ltd., (y) certain of the Issuer’s subsidiaries (the “Limited Guarantors” and together with Transocean Ltd., the “Guarantors”) that guarantee the existing (i) 7.75% Senior Secured Notes due 2024 issued by Transocean Phoenix 2 Limited (the “Thalassa Notes”), (ii) 5.875% Senior Secured Notes due 2024 issued by Transocean Guardian Limited (the “Guardian Notes”), (iii) 6.25% Senior Secured Notes due 2024 issued by Transocean Proteus Limited (the “Proteus Notes”) and (iv) 6.125% Senior Secured Notes due 2025 issued by Transocean Pontus Limited (the “Pontus Notes” and collectively, the “Existing Secured Notes”) and (z) Truist Bank, as trustee and”
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.
“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.”
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).
“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.”
Earnings Releases
Transocean Ltd. reported third quarter 2022 results: revenue $691 million, net income $28 million, EPS $0.04 per diluted share.
“Total contract drilling revenues were $691 million, compared to $692 million in the second quarter of 2022 (total adjusted contract drilling revenues of $730 million, compared to $722 million in the second quarter of 2022); ● Revenue efficiency (1) was 95.0%, compared to 97.8% in the prior quarter; ● Operating and maintenance expense was $411 million, compared to $433 million in the prior period; ● Net loss attributable to controlling interest was $28 million, $0.04 per diluted share, compared to $68 million, $0.10 per diluted share, in the second quarter of 2022;”
Keelan Adamson changed role as President and Chief Operating Officer at Transocean Ltd..
“on February 11, 2022, Keelan Adamson, age 52, was promoted to President and Chief Operating Officer of the Company.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.