Exchange USD 356m in its ‘23 CB for USD 213m in a Guaranteed CB ‘27
The new Senior Guaranteed CB will be structurally senior to GNs
We estimate an available basket of USD ~0.9bn for similar debt
The transaction is positive for the company but mixed for the bonds
06 Aug 2020
Taking steps to improve the runway
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Taking steps to improve the runway
Transocean Ltd. (0QOW:LON) | 0 0 (-0.8%) | Mkt Cap: 3,611m
- Published:
06 Aug 2020 -
Author:
Sebastian Grindheim -
Pages:
5
Exchange USD 356m in its ‘23 CB for USD 213m in a Guaranteed CB ‘27
The new Senior Guaranteed CB will be structurally senior to GNs
We estimate an available basket of USD ~0.9bn for similar debt
The transaction is positive for the company but mixed for the bonds