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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.
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