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Citibank Agents Upsize for Offshore Drilling Firm Transocean

May 15, 2019, 08:45 AM
Filed Under: Energy

Transocean Ltd. announced that it has amended the terms of its Revolving Credit Facility dated June 22, 2018 to increase the capacity of the Facility to $1.36 billion from $1.0 billion. The Facility contains an accordion provision permitting an increase in capacity of up to $500 million. The Facility, which matures in July 2023, is currently undrawn.  An additional $140 million remains available under the Facility's accordion provision.     

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.

Transocean owns or has partial ownership interests in, and operates a fleet of 48 mobile offshore drilling units consisting of 31 ultra-deepwater floaters, 13 harsh environment floaters, and four midwater floaters. In addition, Transocean is constructing four ultra-deepwater drillships; and one harsh environment semisubmersible in which the company holds a 33.0% interest.

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