Transocean Ltd. announced early results of a cash tender offer to purchase up to $100 million of outstanding senior notes due in 2041 and 2028, with over 50% and 46% of each note, respectively, tendered by the Early Tender Date. The Company amended the terms of the Tender Offer to increase the purchase price. The Tender Offer will expire on October 29, 2025. Holders who tendered their Notes before the Early Tender Date may no longer withdraw them. The Company expects to pay the Total Tender Offer Consideration with proceeds from the New Notes Offering. Wells Fargo Securities is the Dealer Manager for the Tender Offer.

For more information, contact Wells Fargo Securities at (704) 410-4820 or D.F. King & Co., Inc. at (800) 848-3405. This press release is not an offer to purchase or solicitation of an offer to sell the Notes. Any securities issued in the New Notes Offering will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption. Transocean is a leading provider of offshore drilling services for oil and gas wells, specializing in ultra-deepwater and harsh environment drilling.

Forward-looking statements in this release are subject to uncertainties and risks beyond Transocean’s control. Actual results may differ from these statements due to various factors, including market conditions and investor response to the Tender Offer. For more details, refer to Transocean’s filings with the SEC. Contact Alison Johnson at +1 713-232-7214 for analyst inquiries and Kristina Mays at +1 713-232-7734 for media inquiries.

Read more at GlobeNewswire: Transocean Ltd. Announces Early Tender Results and Upsizing