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Transocean closes $1.25B senior note offering to fund tender

subsidiaryTransocean Inc. closed its offering of $1.25 billion of 2023 senior notes to helpfund its tender offersto buy back shorter-term senior notes.

About$854.9 million of the net proceeds were allocated to tender offers to buy up to$1.0 billion of Transocean's 6.500% senior notes due 2020, 6.375% senior notes due2021 and 3.800% senior notes due 2022, according to a July 22 news release. Therest of the proceeds would be used to pay off existing indebtedness and forgeneral corporate purposes.