News Release: Ogier Cayman Advises Transocean on Senior Notes Offering
Contributed by Ogier.
25 January, 2012
Contributed by Ogier [www.ogier.com]
Grand Cayman, Cayman Islands Ogier Cayman announced that it has successfully advised Transocean, the Swiss-domiciled provider of global drilling management services, on its multi-term, billion dollar senior notes offering which closed on 5 December 2011.
The notes, which were housed in Transoceans Cayman Islands subsidiary, were priced on 30 November 2011 and have maturity dates ranging from 2016 to 2041 with annual interest rates ranging from 5.05 per cent to 7.35 per cent. The proceeds are expected to be used to refinance existing credit with any remaining funds applied to general corporate purposes.
Ogier Cayman was pleased to be able to bring forward our expertise in structuring global capital markets transactions on this important notes offering for Transocean, said Ogier Cayman Partner Peter Cockhill. A significant and complex engagement such as this one is ideally suited to our corporate and commercial service offerings and geographic knowledge.
Ogier Cayman Senior Associate Bradley Kruger, who worked directly on the transaction said: Transocean is a longstanding client of Ogier Cayman and this is a significant financing transaction for them. We look forward to many more similar opportunities to lend our expertise to Transocean and other firms tied to the global resources sector.
Ogier is the only offshore firm offering legal and fiduciary services that has a substantive presence in the four leading offshore centres: the British Virgin Islands, the Cayman Islands, Guernsey and Jersey. Ogier Cayman has 135 of staff and offers a full range of offshore legal and fiduciary services to clients around the world.
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