Transocean Ltd.
Transocean Titan Financing Limited Announces Amendment to Senior Secured Notes Agreement
Summary
On May 8, 2024, Transocean Titan Financing Limited entered into a first supplemental indenture to amend its 8.375% Senior Secured Notes due 2028. The amendment, which was consented to by holders of approximately 99% of the outstanding Notes, specifies that Collateral Rig Net Income is to be calculated on an annualized basis, with the first test date for the Collateral Rig Leverage Ratio set for September 30, 2024.
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About Transocean Ltd.
Transocean Ltd. is a leading offshore drilling contractor known for providing services in the exploration and production of oil and natural gas. Its primary function is to offer extensive deepwater and ultra-deepwater drilling capabilities to major oil companies worldwide. Operating one of the most advanced fleets in the industry, Transocean owns and manages a range of drilling rigs, with capabilities to work in harsh environmental conditions and at extreme water depths, showcasing its technological prowess. The company significantly impacts the energy sector, supporting the search for hydrocarbon resources in offshore locations globally. Headquartered in Switzerland, Transocean is a pivotal player in satisfying the global demand for fossil fuels, influencing energy supply chains and economic activities linked to oil markets. Its advanced technological solutions cater to an industry where safety, efficiency, and environmental considerations are paramount, thereby securing its position as a crucial partner for global energy companies.
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