Transocean Aquila Commences Private Offering Of Senior Secured Notes - Quick Facts

(RTTNews) - Transocean Ltd. (RIG) announced that Transocean Aquila, an indirect subsidiary, commenced a private offering of $300 million in aggregate principal amount of senior secured notes due 2028 to eligible purchasers. The company said the Notes will be guaranteed by Transocean Ltd., Transocean Inc., and a wholly-owned indirect subsidiary that initially will own the Deepwater Aquila and will be secured by a lien on the Deepwater Aquila and certain other assets related to the rig.

Transocean plans to use the net proceeds to partially finance the construction, acquisition and improvement or alteration of the Deepwater Aquila and to fund the initial debt service reserve.