Company: RIG
Filing Date: 2025-10-15
Form Type: 8-K
Source: 0001451505-25-000113
Chunk: 3

Company: Transocean Ltd.
Filing Date: 2025-10-15
Form: 8-K
Item: Item 8.01
Chunk 3
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Item 8.01

Other Events.

On October 15, 2025, Transocean Ltd. announced the early results and early settlement date for the previously announced cash tender offer (the “ Tender Offer”) by the Company, which commenced on September 30, 2025, to purchase up to an aggregate principal amount of the outstanding 7.35% Senior Notes due 2041 (the “2041 Notes”), and 7.00% Notes due 2028 (the “2028 Notes” and, together with the 2028 Notes, the “ Tender Notes”) for a combined aggregate purchase price of up to $50 million. The 2041 Notes have a step-up coupon currently at 9.35%. The Company has amended the terms of the Tender Offer to increase the combined aggregate purchase price to $100 million (excluding accrued and unpaid interest, which also will be paid to, but excluding, the early settlement date and excluding fees and expenses related to the Tender Offer) (as amended, the “ Maximum Tender Offer Amount”). All other terms of the previously announced Tender Offer remain unchanged.

As of 5:00 p. m. New York City time on October 14, 2025 (the “ Early Tender Date”), according to information provided to the Company by the tender and information agent for the Tender Offer, $88,998,000 aggregate principal amount of the 2041 Notes (approximately 50.21% of the aggregate principal amount outstanding) was validly tendered and $120,628,000 aggregate principal amount of the 2028 Notes (approximately 46.18% of the aggregate principal amount outstanding) was validly tendered. The Company accepted for payment all such 2041 Notes validly tendered and not validly withdrawn in the Tender Offer. The Company will accept for purchase all such 2028 Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date on a pro rata basis based on the proration procedures described in the Offer to Purchase dated September 30, 2025 (the “ Offer to Purchase”). As a result, the proration factor applicable to the 2028 Notes is approximately 13.17%.

This Current Report on Form 8-K does not constitute an offer to purchase nor a solicitation of an offer to sell the Tender Notes. In addition, this Current Report on Form 8-K does not constitute an offer to sell or the solicitation of an offer to buy any Notes issued in