Transocean converts $8 million 0% bonds, buys back $3.12 million 1.5% convertibles

By Susanna Moon

Chicago, Dec. 3 - Transocean Inc. redeemed $18,000 zero-coupon convertibles debentures and $3,118,000 of 1.5% convertible debentures on Nov. 15, according to an 8-K filing with the Securities and Exchange Commission.

Transocean said it converted $8,025,000 of the zero-coupon convertibles between Nov. 10 and Nov. 15. The company issued 65,455 common shares upon conversion of the debentures.

The issuer is an offshore drilling contractor based in Houston.

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