Transocean Boosts Liquidity Ahead Of Projected Cash Burn [Seeking Alpha]
Transocean Ltd (Switzerland) (RIG)
Last transocean ltd (switzerland) earnings: 4/29 04:24 pm
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Source: Seeking Alpha
Transocean Boosts Liquidity Ahead Of Projected Cash Burn Recently, Transocean ( RIG increased issued It is not surprising that Transocean is once again turning to the debt market. The company’s liquidity projections for the end of 2020 implied $300 million-$500 million of cash, while capex for the newbuild drillship was pushed to 2021. Put simply, Transocean needs more liquidity, and that’s what it gets with the new notes issue and the increase of the revolving credit facility. Up to this point, Transocean avoided using the credit facility which is due in 2023. However, it looks like it will have to use it in the future, as it is gradually running out of good rigs to use as collateral. Here’s the story of Transocean debt moves in 2016–2019: Source: Transocean press releases, Bassoe Offshore database, author’s work The last round of financing made Transocean pledge the remaining two Songa semi-subs which are now named Transocean Endurance and Transocean Equinox. Creditors are certainly
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News
- Transocean adds contract extensions worth $248M, fleet status report says [Seeking Alpha]Seeking Alpha
- Transocean Ltd. Announces Results of Tender Offers [Yahoo! Finance]Yahoo! Finance
- Transocean Ltd. Announces Results of Tender OffersGlobeNewswire
- Transocean Ltd. Provides Quarterly Fleet Status ReportGlobeNewswire
- Transocean Ltd. Announces the Pricing Terms of Pending Tender Offer [Yahoo! Finance]Yahoo! Finance
RIG
Earnings
- 2/19/24 - Beat
RIG
Sec Filings
- 4/18/24 - Form 8-K
- 4/17/24 - Form 8-K
- 4/11/24 - Form 8-K
- RIG's page on the SEC website