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Prospect News home > News index > List of issuers T > Headlines for Transocean Pontus Ltd. > News item
Published on 1/17/2023 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Transocean to redeem existing secured notes with new note proceeds

By Mary-Katherine Stinson

Lexington, Ky., Jan. 17 – Transocean Inc. will use the proceeds from a planned $1.175 billion issuance of seven-year senior secured notes to fully redeem its existing secured notes, all issued by Transocean subsidiaries, according to a press release.

The four tranches of senior secured notes earmarked for redemption are the 7¾% senior secured notes due 2024 issued by Transocean Phoenix 2 Ltd., the 5 7/8% senior secured notes due 2024 issued by Transocean Guardian Ltd., the 6¼% senior secured notes due 2024 issued by Transocean Proteus Ltd. and the 6 1/8% senior secured notes due 2025 issued by Transocean Pontus Ltd.

The issuer is a Switzerland-based offshore drilling contractor, better known by its stock ticker, NYSE: RIG.


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