PRESS RELEASE: Transocean Announces Pricing of Share Offering Transocean Ltd. / ZUG, SWITZERLAND–(Marketwire – November 29, 2011 – Transocean Ltd. (NYSE:RIG Barclays Capital Inc. and Credit Suisse Securities (USA LLC acted as joint The shares will be issued under a shelf registration statement filed by This press release shall not constitute an offer to sell or the solicitation of Forward-Looking Statements Statements included in this news release regarding purchases of the Series B About Transocean Transocean is the world’s largest offshore drilling contractor and the leading Notice to Swiss Investors This document does not constitute an offer to buy or to subscribe for securities Notice to Investors in the European Economic Area In any EEA Member State that has implemented Directive 2003/71/EC (such Notice to Investors in the United Kingdom This communication is only being distributed to and is only directed at (i Stabilisation/FSA Analyst Contacts: Chris Kettmann Media Contact: — End of Message — Transocean Ltd. ISIN: CH0048265513;
Transocean Announces Pricing of Share Offering
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The issuer is solely responsible for the content of this announcement.
(SIX: RIGN today announced that it has priced its previously-announced public
offering of 26,000,000 of its shares at a public offering price of U.S. $40.50
per share, or 37.32 Swiss francs per share at an exchange rate of 0. 9215 Swiss
francs per U.S. $1.00. Transocean granted the underwriters a 30-day option to
purchase up to an additional 3,900,000 shares at the public offering price (less
the underwriting discount solely to cover over-allotments, if any. Net proceeds
to Transocean from the sale of the 26,000,000 shares, after underwriting
discounts, estimated offering expenses and the Swiss Federal Issuance Stamp Tax
(Emissionsabgabe, will be approximately U.S. $1,008 million. Transocean intends
to use the net proceeds from this offering to partially refinance its
acquisition of Aker Drilling ASA, which was initially financed through the use
of available cash and the assumption of Aker’s outstanding debt. In particular,
this offering will replenish cash that would be applied to the expected
approximate $1.7 billion in aggregate repurchase by Transocean Inc. of its
1.50% Series B Convertible Senior Notes due December 2037. The offering is
expected to close on December 5, 2011, subject to customary closing conditions.
book-running managers in the equity offering. A prospectus supplement related to
the offering will be filed with the Securities and Exchange Commission and be
available on the SEC’s website, www.sec.gov. Copies of the prospectus supplement
for the offering may be obtained on the website of the Securities and Exchange
Commission, www.sec.gov, or by contacting Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, New York, NY 11717, via telephone
at 888-603-5847, or by e-mailing: Barclaysprospectus@broadridge. com or Credit
Suisse Securities (USA LLC, Prospectus Department, at One Madison Avenue, New
York, New York 10010, or by telephone at 1-800-221-1037.
Transocean Ltd. and Transocean Inc. with the Securities and Exchange Commission
on September 16, 2010, which became automatically effective.
an offer to buy these securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. This offering may only be made by
means of a prospectus supplement and related base prospectus.
Convertible Senior Notes and the timing, use of proceeds and other aspects of
the offering are forward-looking statements that involve certain assumptions.
These statements involve risks and uncertainties including, but not limited to,
market conditions, closing conditions, actions by holders of the Series B
Convertible Senior Notes, Transocean’s results of operations and other factors
detailed in «Risk Factors» and elsewhere in Transocean’s filings with the
Securities and Exchange Commission. Should one or more of these risks or
uncertainties materialize (or the other consequences of such a development
worsen, or should underlying assumptions prove incorrect, actual outcomes may
vary materially from those forecasted or expected. Transocean disclaims any
intention or obligation to update publicly or revise such statements, whether as
a result of new information, future events or otherwise.
provider of drilling management services worldwide. With a fleet of 135 mobile
offshore drilling units, excluding two Ultra-Deepwater Drillships and four High-
Specification Jackups under construction, Transocean’s fleet is considered one
of the most modern and versatile in the world due to its emphasis on technically
demanding segments of the offshore drilling business. Transocean owns or
operates a contract drilling fleet of 50 High-Specification Floaters (Ultra-
Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships, 25
Midwater Floaters, nine High-Specification Jackups, 50 Standard Jackups and one
swamp barge.
of Transocean nor a prospectus within the meaning of applicable Swiss law. The
prospectus and prospectus supplement for this offering are available in
Switzerland free of charge from Credit Suisse AG, Zurich, Switzerland (Facsimile
+41 44 333 35 93, E-mail: equity.prospectus@credit-suisse.com. Investors are
advised to consult their bank or financial adviser before making any investment
decision.
Directive and amendments thereto, including Directive 2010/73/EU, to the extent
implemented in each relevant Member State, together with any applicable
implementing measures in the relevant home Member State, the «Prospectus
Directive», this communication is only addressed to and directed at qualified
investors in that Member State within the meaning of the Prospectus Directive.
persons who are outside the United Kingdom or (ii investment professionals
falling within Article 19(5 of the Financial Services and Markets Act 2000
(Financial Promotion Order 2005 (the «Order» or (iii high net worth
companies, and other persons to whom it may lawfully be communicated, falling
within Article 49(2(a to (d of the Order (all such persons together being
referred to as «relevant persons». The shares are only available to, and any
invitation, offer or agreement to subscribe, purchase or otherwise acquire such
shares will be engaged in only with, relevant persons. Any person who is not a
relevant person should not act or rely on this document or any of its contents.
Thad Vayda
+1 713-232-7551
+1 713-232-7420
Guy A. Cantwell
+1 713-232-7647
Chemin de Blandonnet 10 Vernier Switzerland
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originality of the information contained therein.
Source: Transocean Ltd. via Thomson Reuters ONE
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