Transocean holders exercise put for $1.29 billion 1.625% convertibles

By Melissa Kory

Cleveland, Dec. 16 - Transocean Inc. said holders put back $1,287,702,000 of its $1,299,093,000 of 1.625% series A convertible senior notes due Dec. 15, 2037 as of 5 p.m. ET on Dec. 15, the expiration date of the option.

The notes were repurchased at par.

Wells Fargo Bank, NA was the redemption agent.

After the repurchase, $11,391,000 of the notes remains outstanding.

Transocean is a wholly owned subsidiary of Transocean Ltd., a Switzerland-based offshore drilling contractor and provider of drilling management services worldwide.

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