Transocean Ltd

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Debt Financing / Related

Transocean Says Strongly Disagrees With Assertion Made By Holders In 2025 Notes Notice And 2027 Notes Notice

Published: 10/07/2020 11:55 GMT
Transocean Ltd (RIG) - Transocean - on Oct.
2, Funds Managed by Pimco, Whitebox & Other Advisors Sent Notice of Alleged Default & Conditional Declaration of Acceleration.
Transocean - 2025 Notes Notice Alleges a Default Occurred in Connection With Transocean’s Previously Announced Internal Reorganization.
Transocean - Strongly Disagrees With the Assertion Made by the Holders in the 2025 Notes Notice And, As With the 2027 Notes Notice.
Transocean - Demanding a Withdrawal of the 2025 Notes Notice and the 2027 Notes Notice by Response Letter.
Transocean - Maintains That Previously Announced Internal Reorganization and Exchange Transactions Comply With the Terms of Existing Indentures.
Transocean - As of June 30, Had No Outstanding Borrowings and $25 Million of Letters of Credit Issued Under Its Revolving Credit Facility.