Homburger advises Transocean Ltd. in connection with an equity distribution agreement relating to the offer and sale of Transocean Ltd. shares up to an aggregate offering price of USD 400,000,000

On June 14, 2021, Transocean Ltd. announced that it entered into an equity distribution agreement with Jefferies LLC. Pursuant to the terms of the agreement, Transocean may offer and sell its shares, par value CHF 0.10 per share, from time to time through Jefferies LLC, as Transocean’s sales agent for the offer and sale of the shares, up to an aggregate offering price of USD 400,000,000. Sales of the shares, if any, will be made by means of ordinary brokers’ transactions on the New York Stock Exchange, to or through a market maker or directly on or through an electronic communications network at market prices, in negotiated transactions or as otherwise permitted by law. Transocean intends to use the net proceeds from the sale of the shares for general corporate purposes, which may include, among other things the repayment or refinancing of indebtedness and the funding of working capital, capital expenditures, investments and additional balance sheet liquidity. Transocean may invest funds not required immediately for such purposes in marketable securities and short-term investments.

Homburger has acted as Swiss counsel to Transocean Ltd. The Homburger team is being led by David Oser (Partner, Corporate / M&A) and among others includes Marc Hanslin (Associate, Corporate / M&A) and Reto Heuberger (Partner, Tax).