Transocean raising $550m via note offering to fund drillship acquisition

Transocean raising $550m via note offering to fund drillship acquisition

Offshore drilling contractor Transocean is raising $550m via a senior secured note offering, with net proceeds to be used to partially finance for drillship Deepwater Poseidon.

Transocean took delivery of the drillship from South Korea’s DSME last year and immediately sent it out on a 10-year contract with Shell in the Gulf of Mexico.

The offering is expected to close February 1, with net proceeds estimated at $538m.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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