Transocean calls floaters due 2020 at 103.5, floaters due 2021 at 101

By Susanna Moon

Chicago, Jan. 31 – Transocean Ltd. said it exercised the call option Wednesday on two series of floating-rate bonds due 2020 and 2021.

The notes also are putable after the acquisition of Songa Offshore SE, which constitutes a change of control under the note terms, according to a notice by the company.

The redemption price is 103.5 for the floaters due 2020 and at 101 for the floaters due 2021.

Songa is an offshore drilling company based in Oslo and Limassol, Cyprus. Transocean is a Houston-based offshore contract driller with a registered office in Zug, Switzerland.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.