Transocean buys back $261 million in 1.625% series A convertible notes in open market

By Devika Patel

Knoxville, Tenn., May 6 - Transocean Inc. repurchased $111 million of its 1.625% series A convertible senior notes for $102 million in the quarter ended March 31, according to a 10-Q filed Wednesday with the Securities and Exchange Commission.

It repurchased an additional $150 million of the notes for $141 million in April.

The notes were bought back for cash in the open market.

The company provides offshore contract drilling for oil and gas wells and is based in Houston.

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