Transocean closes offering $625 million secured notes due 2024

Transocean closes offering of $625 million secured notes due 2024

5:14 AM, 12th December 2016

ZUG, SWITZERLAND: Transocean Proteus Limited, a wholly-owned indirect subsidiary of Transocean Ltd has closed its previously declared offering of $625 million in aggregate principal amount of 6.25 percent senior secured notes due 2024, pursuant to Rule 144A/Regulation S to eligible purchasers.

The notes are guaranteed by Transocean Ltd, Transocean Inc, and a wholly-owned indirect subsidiary that owns the Deepwater Proteus. The notes are secured by a lien on the Deepwater Proteus and certain other assets related to the rig.

The net proceeds of approximately $609 million from the Notes will be used primarily for the purpose of partially financing the construction of the Deepwater Proteus.

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