Transocean notes convertible through Feb. 2, company amends several series of convertibles

By Jennifer Chiou

New York, Dec. 19 - Transocean Inc., a Cayman Islands company, and Transocean Ltd., a Swiss corporation, executed a supplemental indenture to provide that Transocean-Switzerland will guarantee the following obligations of Transocean-Cayman:

• 1.625% series A convertible senior notes due 2037;

• 1.5% series B convertible senior notes due 2037;

• 1.5% series C convertible senior notes due 2037;

• 5.25% senior notes due 2013;

• 6% senior notes due 2018; and

• 6.80% senior notes due 2038.

The supplemental indenture also provides that upon conversion of the convertible senior notes, holders will receive Transocean-Switzerland shares instead of Transocean-Cayman shares.

Holders also have the right to convert the convertible senior notes between Dec. 3 and Feb. 2.

Wells Fargo Bank, NA is the trustee.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.