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 is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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