Transocean $510 million revolving credit facility amendment and extension
We advised the administrative agent, joint lead arranger and lender on the facility
Davis Polk advised the administrative agent, joint lead arranger and lender in connection with the amendment and extension of Transocean Inc.’s senior secured revolving credit facility to, among other things, extend the maturity of $510 million of revolving commitments from June 2025 to June 2028.
Transocean is a subsidiary of Transocean Ltd., a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding regions of the global offshore drilling business, with a particular focus on ultra-deepwater and harsh environment drilling services.
The Davis Polk finance team included partner Kenneth J. Steinberg, counsel Zachary R. Frimet and associate David Waldman. All members of the Davis Polk team are based in the New York office.