09:54 AM EDT, 09/30/2025 (MT Newswires) -- Transocean ( RIG ) said Tuesday that its Transocean International unit has launched a private offering of $500 million worth of senior priority guaranteed notes due 2032.

The company said it plans to use the net proceeds to refinance, repay or redeem certain notes and finance its offer to buy for cash up to a combined total purchase price of $50 million of 7.35% senior notes due December 2041 and 7% notes due June 2028.

The cash tender offer started by Transocean International is set to expire on Oct. 29, unless extended or terminated earlier, the company said in a separate statement.

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