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Transocean Ltd. - Consent Solicitation 2024 (US) - Launch

Transocean Ltd. Announces Consent Solicitation For 8.375% Senior Secured Notes Due 2028 - US89386MAA62/USG9007MAA65
 

01 MAY 2024


Full announcement including disclaimers and offer/distribution restrictions available via Transocean

Scroll below for information on other offers realted to this Issuer


STEINHAUSEN, Switzerland, May 01, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that its wholly owned and indirect subsidiary, Transocean Titan Financing Limited (the “Company” and, together with Transocean Ltd., “Transocean”), is soliciting consents (“Consents” and, such solicitation being referred to herein as, the “Consent Solicitation”) from holders (the “Holders”) of its outstanding 8.375% Senior Secured Notes due 2028 (the “Notes”) as of 5:00 p.m. New York City time, on April 29, 2024 to effect an amendment to the indenture governing the Notes (the “Indenture”), as described below, upon the terms and subject to the conditions set forth in the Consent Solicitation Statement, dated May 1, 2024 (as may be amended or supplemented from time to time, the “Consent Solicitation Statement”). The Consent Solicitation will expire at 5:00 p.m. New York City time, on May 7, 2024 (such time and date, as the same may be extended by the Company from time to time, the “Expiration Date”).

Certain details regarding the Consent Solicitation are set forth in the table below.



The purpose of the Consent Solicitation is to seek Consents with respect to the adoption and effectiveness of an amendment (the “Proposed Amendment”) to the Indenture to defer the first measurement date of the Collateral Rig Leverage Ratio under the Indenture to specify that Collateral Rig Net Income (as defined in the Indenture) would be calculated on an annualized basis commencing with the two-fiscal quarter period ending September 30, 2024, with the first test date of the Collateral Rig Leverage Ratio (as defined in the Indenture) being September 30, 2024."


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Transocean Ltd. Announces Results of Tender Offers - 893830BQ1 - G90073AG5 - 893830BK4 - G90073AD2
 

18 APRIL 2024


Full announcement including disclaimers and offer/distribution restrictions available via Globenewswire


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"According to information received from D.F. King & Co., Inc., the tender agent and information agent for the Offers, as of 5:00 p.m., New York City time, on April 17, 2024, $844,367,000 in combined aggregate principal amount of Notes had been validly tendered, consisting of the following Notes:



The principal amounts tendered indicated above excludes $1,221,000 aggregate principal amount of Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase and the related notice of guaranteed delivery provided in connection therewith, which remain subject to the Holders’ performance of the delivery requirements under such procedures."


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Transocean Ltd. Announces Cash Tender Offers - 893830BQ1 - G90073AG5 - 893830BK4 - G90073AD2
 

11 APRIL 2024


Full announcement including disclaimers and offer/distribution restrictions available via Globenewswire


STEINHAUSEN, Switzerland, April 11, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced that Transocean Inc., its wholly-owned subsidiary (the “Company” and, together with Transocean Ltd., “Transocean”), has commenced an offer to purchase for cash (collectively, the “Offers” and each, an “Offer”) any and all of its outstanding 11.50% Senior Guaranteed Notes due 2027 (the “2027 Super Priority Guaranteed Notes”) and 7.25% Senior Notes due 2025 (the “2025 Priority Guaranteed Notes,” collectively with the 2027 Super Priority Guaranteed Notes, the “Notes”), in each case, from holders thereof (each, a “Holder” and collectively, the “Holders”). Each of the Notes specified in the table below are referred to as a “series” of Notes. The Offers are being made pursuant to an Offer to Purchase, dated April 11, 2024 (the “Offer to Purchase”).

The Offer for the Notes will expire at 5:00 p.m., New York City time, on April 17, 2024 unless extended (such date and time, as may be extended, the “Expiration Date”), or unless earlier terminated. To be eligible to receive the applicable Total Consideration (as defined herein) payable for the Notes, Holders must (i) validly tender Notes on or prior to the Expiration Date or (ii) deliver a properly completed and duly executed notice of guaranteed delivery (as may be amended or supplemented from time to time, the “Notice of Guaranteed Delivery”) on or prior to the Expiration Date. Tendered Notes may be withdrawn on or prior to, but not after, 5:00 p.m., New York City time, on April 17, 2024.

The Offers are subject to the satisfaction or waiver of the conditions, including the Financing Condition (as defined below).


Any and All of the Outstanding Notes Listed Below:




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