Transocean Ltd. Announces Proposed Senior Notes Offering
(Thomson Reuters ONE) -
Transocean Ltd. / Transocean Ltd. Announces Proposed Senior Notes Offering processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
ZUG, SWITZERLAND--(Marketwire - September 16, 2010) - Transocean Ltd. (NYSE:
RIG) (SIX: RIGN) today announced the proposed public offering of senior notes of
its wholly-owned subsidiary, Transocean Inc. Transocean Ltd. expects to fully
and unconditionally guarantee the senior notes.
Transocean Inc. intends to use the net proceeds from this offering (1) to fund
the expected repurchase of its 1.625% Series A Convertible Senior Notes due
December 2037 that holders of the Series A Convertible Senior Notes may require
it to repurchase in December 2010 and (2) to fund the intended repurchase of a
portion of its 1.50% Series B Convertible Senior Notes due 2037 and its 1.50%
Series C Convertible Senior Notes due December 2037 through repurchases in the
open market, in privately negotiated transactions or in tender offers.
Transocean Inc. plans to use the remainder, if any, of such net proceeds for
general corporate purposes in its operations, including but not limited to
capital expenditures, acquisitions or repayment or refinancing of debt. Pending
application of the net proceeds from the sale of the senior notes, Transocean
Inc. intends to invest such proceeds in short-term investments.
The senior notes will be issued under a shelf registration statement filed by
Transocean Ltd. and Transocean Inc. with the Securities and Exchange Commission
today, which became automatically effective.
This press release is neither an offer to sell nor a solicitation of an offer to
buy the securities described herein, nor shall there be any sale of these
securities in any jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. The offering of these securities will be made
only by means of a prospectus and related prospectus supplement. The senior
notes may not be publicly offered, sold or advertised, directly or indirectly,
in Switzerland. When available, copies of the prospectus and related prospectus
supplement in respect of any of these securities may be obtained from Goldman,
Sachs & Co., Prospectus Department, 200 West Street, New York, New York 10282,
telephone: 1-866-471-2526, facsimile: (212) 902-9316 or by emailing
prospectus-ny(at)ny.email.gs.com, J.P. Morgan Securities LLC, 383 Madison Avenue,
New York, New York 10179, Attn: High Grade Syndicate Desk or via fax at (212)
834-6081 and Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th
Street, 8th Floor, Brooklyn, New York 11220, via telephone at 1 (800) 831-9146
or email at batprospectusdept(at)citi.com.
Forward-Looking Statements
Statements included in this news release regarding purchases of Convertible
Senior Notes and the timing, amounts, use of proceeds and other aspects of the
proposed offering are forward-looking statements that involve certain
assumptions. These statements involve risks and uncertainties including, but not
limited to, market conditions, closing conditions, actions by holders of
Convertible Senior Notes, Transocean's results of operations and other factors
detailed in "Risk Factors" and elsewhere in Transocean's filings with the
Securities and Exchange Commission. Should one or more of these risks or
uncertainties materialize (or the other consequences of such a development
worsen), or should underlying assumptions prove incorrect, actual outcomes may
vary materially from those forecasted or expected. Transocean disclaims any
intention or obligation to update publicly or revise such statements, whether as
a result of new information, future events or otherwise.
About Transocean
Transocean is the world's largest offshore drilling contractor and the leading
provider of drilling management services worldwide. With a fleet of 139 mobile
offshore drilling units plus three ultra-deepwater newbuild drillships under
construction, Transocean's fleet is considered one of the most modern and
versatile in the world due to its emphasis on technically demanding segments of
the offshore drilling business. Transocean owns or operates a contract drilling
fleet of 45 High-Specification Floaters (Ultra-Deepwater, Deepwater and
Harsh-Environment semisubmersibles and drillships), 26 Midwater Floaters, 10
High-Specification Jackups, 55 Standard Jackups and other assets utilized in the
support of offshore drilling activities worldwide.
Analyst Contact:
Gregory S. Panagos
+1 713-232-7551
Media Contact:
Guy A. Cantwell
+1 713-232-7647
[HUG#1444865]
--- End of Message ---
Transocean Ltd.
Chemin de Blandonnet 10 Vernier Switzerland
ISIN: CH0048265513;
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Transocean Ltd. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 16.09.2010 - 14:41 Uhr
Sprache: Deutsch
News-ID 42652
Anzahl Zeichen: 0
contact information:
Town:
Vernier
Kategorie:
Business News
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