Transocean Prices $325M Of Secured Notes Due 2028
Portfolio Pulse from Benzinga Newsdesk
Transocean has priced $325M of secured notes due 2028. The notes will bear an interest rate of 8.000% per annum and will be callable after September 30, 2025.
September 27, 2023 | 5:52 am
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NEUTRAL IMPACT
Transocean's pricing of $325M of secured notes due 2028 may impact its liquidity and debt profile.
The issuance of secured notes will increase Transocean's debt, but it also provides the company with additional liquidity. The impact on the stock price will depend on how the market perceives this balance between increased debt and liquidity.
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IMPORTANCE 70
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