11:26 AM EDT, 04/11/2024 (MT Newswires) -- Transocean ( RIG ) said Thursday that the company along with its unit started cash tender offers to buy any and all of its outstanding 11.50% senior guaranteed notes due 2027 and 7.25% senior notes due 2025.

The 2027 notes are for about $687.3 million and the 2025 notes are for about $354.2 million. The offer to purchase the notes is set to expire at 5 p.m. ET on April 17, the company said.

Separately, the company said that it along with its unit started a private offering of $1.50 billion of senior notes due 2029 and senior notes due 2031.

The company said that a part of the net proceeds will be used to fund the offer to buy for cash any and all of its outstanding 2027 notes and 2025 notes. The remaining proceeds will go toward the redemption of other priority guaranteed notes, the company added.

Shares of Transocean ( RIG ) fell nearly 3% in recent trading activity.

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