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Transocean unit prices $750M senior note offering

Transocean Inc., a subsidiary of Swiss driller Transocean Ltd., priced a previously announced offering of $750 million senior unsecured notes due 2027.

The notes will bear an interest rate of 8.0% per year, according to a Jan. 8 release. Proceeds will be used to refinance, repurchase or redeem debt in one or more transactions and for general corporate purposes.

The offering is expected to close on Jan. 17, subject to customary closing conditions.