Transocean Ltd. Announces Closing of U.S. $600 Million of Secured Notes Due 2024
October 19 2016 - 6:12PM
ZUG, SWITZERLAND - October 19, 2016 - Transocean
Ltd. (NYSE: RIG) announced today that Transocean Phoenix 2 Limited,
one of its wholly-owned indirect subsidiaries (the "Issuer"), has
closed its previously announced offering of U.S. $600 million in
aggregate principal amount of 7.75% senior secured notes due 2024
(the "Notes") 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 Thalassa. The Notes are secured by a lien on
the Deepwater Thalassa and certain other
assets related to the rig.
The net proceeds of approximately $584 million from the Notes will
be used primarily for the purpose of partially financing the
construction of the Deepwater
Thalassa.
The Notes have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "Securities Act"), or any
state securities laws and may not be offered or sold in the United
States except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and applicable state securities laws. The Notes offered may not be
publicly offered, sold or advertised, directly or indirectly, in
Switzerland. This press release shall not constitute an offer to
sell or a solicitation of an offer to buy any of the Notes in the
United States, shall not constitute an offer, solicitation or sale
of the Notes in any jurisdiction where such offering or sale would
be unlawful and does not constitute an offering prospectus within
the meaning of article 652a or article 1156 of the Swiss Code of
Obligations. Any public offering of Transocean's securities in the
United States will be made only by means of a prospectus that will
contain detailed information about Transocean and its management,
as well as financial statements. There shall not be any sale of the
Notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
About Transocean
Transocean is a leading international provider of offshore contract
drilling services for oil and gas wells. The company specializes in
technically demanding sectors of the global offshore drilling
business with a particular focus on deepwater and harsh environment
drilling services, and believes that it operates one of the most
versatile offshore drilling fleets in the world.
Transocean owns or has partial ownership interests in, and operates
a fleet of, 58 mobile offshore drilling units consisting of 29
ultra-deepwater floaters, seven harsh-environment floaters, four
deepwater floaters, eight midwater floaters and 10
high-specification jackups. In addition, the company has five
ultra-deepwater drillships and five high-specification jackups
under construction or under contract to be constructed.
For more information about Transocean, please visit:
www.deepwater.com.
Forward-Looking Statements
This news release contains certain forward-looking information and
forward-looking statements as defined in applicable securities laws
(collectively referred to as "forward-looking statements").
Forward-looking statements include statements regarding the
Issuer's plans to use the proceeds from the Notes.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of Transocean to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking
statements. Factors that may cause actual results to vary
include, but are not limited to, risks relating to conditions in
financial markets, investor response to the Issuer's offering and
sale of the Notes and the guarantees of the Notes, and other risk
factors as detailed from time to time in Transocean Ltd.'s reports
filed with the U.S. Securities and Exchange Commission.
Readers are cautioned against unduly relying on forward-looking
statements. Forward-looking statements are made as of the date of
the relevant document and, except as required by law, Transocean
undertakes no obligation to update publicly or otherwise revise any
forward-looking statements, whether as a result of new information
or future events or otherwise.
Analyst Contacts:
Bradley
Alexander
+1
713-232-7515
Diane Vento
+1 713-232-8015
Media Contact:
Pam Easton
+1 713-232-7647
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Transocean Ltd via Globenewswire
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