Transocean Ltd. Announces Pricing of $1.175 Billion of Senior Secured Notes

Vinson & Elkins represented the initial purchasers in connection with a private offering (the “Offering”) of $1.175 billion aggregate principal amount of 8.75% senior secured notes due 2030 (the “Notes”) by Transocean Inc., a wholly-owned subsidiary of Transocean Ltd.

The Notes were priced on Tuesday, January 17, 2023 at par and the Offering is expected to close on Tuesday, January 31, 2023, subject to customary closing conditions.

The Vinson & Elkins corporate team was led by partners Mike Telle and David Stone and counsel Joanna Enns, with assistance from associates Markeya Brown, Taylor Kim, Phil Greenfield, and Patience Li. Also advising were partner Tzvi Werzberger, senior associate Kim Dalrymple, and associates Coral O’Connor, Hayley Johnson, Layla Wehbe and Lary Yau; partner John Michael and associates Ryan Bullard and Hunter Michielson; partner Wendy Salinas and associate Tyler Underwood; counsels Brian Howard and Elizabeth McIntyre and associate Pete Thomas.

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