EuropeFinance and InsuranceOffshore

Transocean raises $600m for new drillship

Offshore driller Transocean has closed a $600m note offering, where proceeds will be used to partially finance newbuild drillship Deepwater Thalassa.

The 7.75% senior secured notes, due 2024, will raise net proceeds of $584m for subsidiary Transocean Phoenix 2 Limited to partially finance the vessel, which was delivered by Korea’s DSME in February.

The drillship commenced a 10-year contract with Shell upon delivery, operating in the Gulf of Mexico at a dayrate of $519,000.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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