The latest announcement is out from Transocean LTD (RIG).
Transocean Ltd. is launching an offering of $1.5 billion in Senior Notes due 2029 and 2031 aimed at qualified institutional buyers, alongside tender offers to buy back all of its outstanding 11.50% Senior Guaranteed Notes due 2027 and 7.25% Senior Notes due 2025. These financial maneuvers are contingent on successfully issuing new debt securities on favorable terms. Additionally, Transocean is negotiating to extend its Revolving Credit Facility by three years, although this is not guaranteed and is not a condition for the offering.
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