TRANSOCEAN LTD. (NYSE:RIG) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD
On October 4, 2017, Transocean Ltd. announced that Transocean Inc., its wholly-owned subsidiary, has priced its previously-announced offering of senior unsecured notes. Transocean Inc. will issue U.S. $750 million in aggregate principal amount of senior unsecured notes due 2026 to Rule 144A/Regulation S under the Securities Act of 1933, as amended, to eligible purchasers.The notes will be guaranteed by Transocean Ltd. and certain of Transocean Inc.’s subsidiaries.
The notes will bear interest at the rate of 7.50% per annum and will be callable on or after January 15, 2021. The offering is expected to close on or about October 17, 2017, subject to customary closing conditions. Transocean Inc. intends to use the proceeds from the Offering to repay in full and retire its 2017 Notes (as defined in the offering memorandum) to redeem all of itsoutstanding 2018 Notes (as defined in the offering memorandum) and to repay in full the amounts outstanding under its Eksportfinans Loans due January 2018, as described in the offering memorandum. The remaining proceeds of the offering areintended to be used for general corporate purposes.
A copy of the press release announcing the pricing of the offering is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
The information in this Current Report on Form 8-K, including Exhibit 99.1, is being “furnished” to Item 7.01 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any Transocean Ltd. filing, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01Financial Statements and Exhibits
(d) Exhibits.
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Exhibit No. |
Description |
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99.1 |
Press Release Announcing Pricing of Notes |