Transocean Ltd. (RIG)

[@LaughinPaulRyan]

On September 3, 2020, Transocean, as defendant, and Whitebox, as plaintiff, each presented its arguments regarding Whitebox’s request for the TRO and Injunction to the Court. The Court promptly denied the TRO and Injunction request. In addition, on September 7, 2020, Transocean delivered a response to PIMCO and Whitebox demanding a withdrawal of the Notice. Transocean maintains that the previously announced internal reorganizations and Exchange Offers comply with the terms of its existing indentures and that the Structurally Senior Guarantors are not required to, and will not, guarantee any of Transocean’s notes (including the Existing 2025 Guaranteed Notes and Existing 2027 Guaranteed Notes). Transocean will continue to defend itself vigorously against the lawsuit and any related future claims.