Transocean Amends Credit Facility, Redeems $165M Notes
Transocean amended and restated its credit agreement, contingent on closing its Valaris acquisition, and redeemed the $165M 8.00% Aquila Notes on Oct. 1 using cash and reserves. The company estimates interest savings of approximately $22M through maturity.
Story updates
09:33:34 PM UTC
SquawkNews
Transocean entered into an amended and restated credit agreement to expand its secured revolving credit facility to $750 million and extend the maturity to October 2031. Effectiveness is subject to closing its acquisition of Valaris and other customary conditions; the existing facility remains in p…