On June 20, 2025, Transocean Ltd. announced that its subsidiary, Transocean International Limited, entered into agreements with holders of its 4.0% Senior Guaranteed Exchangeable Bonds due 2025. Approximately $157 million of these bonds will be exchanged for shares of Transocean Ltd., with the number of shares determined based on the daily volume-weighted average price per share over a fifteen trading day period starting June 20, 2025. For illustrative purposes, if the average price remains at $3.09, about 53 million shares would be issued. The transactions will cease if the share price falls below a limit price of $2.63.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.