Transocean Ltd. - 2010-09-17
Description
Plans to publicly offer $1.1 billion in 4.95% senior notes due 2015 and $900 million in 6.5% senior notes due 2020 of its subsidiary Transocean Inc. to fund redemption of various senior notes for general corporate purposes. Goldman, Sachs & Co., J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are joint book-running managers. The offering will fund the repurchase of its 1.625% series A convertible senior notes due December 2037, a portion of its 1.5% series B convertible senior notes due 2037 and its 1.5% series C convertible senior notes due December 2037. Use of the proceeds for general corporate purposes include capex, acquisitions, repayment or refinancing of debt.