Transocean Files 8K - Regulation FD
October 07 2016 - 8:15AM
Dow Jones News
Transocean Ltd. (RIG) filed a Form 8K - Regulation FD Disclosure
- with the U.S Securities and Exchange Commission on October 07,
2016.
On October 7, 2016, Transocean Ltd. announced that Transocean
Phoenix 2 Limited (the "Issuer"), its wholly-owned indirect
subsidiary, has priced an offering of senior secured notes. The
Issuer will issue U.S. $600 million in aggregate principal amount
of senior secured notes due 2024 pursuant to Rule 144A/Regulation S
under the Securities Act of 1933, as amended, to eligible
purchasers. The notes will be guaranteed by Transocean Ltd.,
Transocean Inc. and a wholly-owned indirect subsidiary of
Transocean Ltd. that owns the drillship Deepwater Thalassa. The
notes will be secured by a lien on the Deepwater Thalassa and
certain other assets related to the rig.
The notes will bear interest at the rate of 7.75% per annum and
will be callable on or after October 15, 2020. The offering is
expected to close on or about October 19, 2016, subject to
customary closing conditions. The Issuer expects to receive
aggregate net proceeds of approximately U.S. $583 million from the
offering, after deducting the initial purchaser's discounts and
estimated offering costs. The net proceeds from the notes will be
used primarily for the purpose of partially financing the
construction of the Deepwater Thalassa.
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" pursuant 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.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/1451505/000145150516000241/rig-20161007x8k.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/1451505/000145150516000241/0001451505-16-000241-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
(END) Dow Jones Newswires
October 07, 2016 09:00 ET (13:00 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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