By Devika Patel
Knoxville, Tenn., May 5 – Transocean Ltd. said its subsidiary Transocean Conqueror Ltd. completed a $410 million private placement of 5.52% senior secured notes due 2022.
The notes have a make-whole call until Dec. 31, 2021 and then are callable at par.
Interest is payable quarterly.
Pareto Securities was the arranger.
Proceeds will be used for the construction of the Deepwater Conqueror.
Transocean is an offshore oil and drilling contractor based in Zug, Switzerland.
| Issuer: | Transocean Conqueror Ltd.
|
| Issue: | Senior secured notes
|
| Amount: | $410 million
|
| Maturity: | May 31, 2022
|
| Arranger: | Pareto Securities
|
| Coupon: | 5.52%
|
| Call feature: | Make-whole call until Dec. 31, 2021, then a par call
|
| Settlement date: | May 5
|
| Distribution: | Private placement
|
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