TRANSOCEAN LTD | Transocean Partners LLC Launches Initial Public Offering |
ABERDEEN, SCOTLAND, July 22, 2014 - Transocean Partners LLC, a Marshall Islands limited liability company formed by TraABERDEEN, SCOTLAND, July 22, 2014 - Transocean Partners LLC, a Marshall Islands limited liability company formed by Transocean Ltd., announced today that it has commenced an initial public offering of 17,500,000 common units representing limited liability company interests pursuant to a Registration Statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission ("SEC"). All of the common units are being offered by Transocean Partners Holdings Limited, a wholly owned subsidiary of Transocean Ltd. The underwriters of the offering are expected to be granted a 30-day option to purchase up to an additional 2,625,000 common units from Transocean Partners Holdings Limited. The common units are expected to trade on the New York Stock Exchange under the ticker symbol "RIGP." The common units being offered represent a 25.4 percent limited liability company interest in Transocean Partners LLC, or a 29.2 percent limited liability company interest if the underwriters exercise in full their option to purchase additional common units. Transocean Ltd., through Transocean Partners Holdings Limited, will own the remaining limited liability company interests in Transocean Partners. Morgan Stanley, Barclays, Citigroup, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers for the offering. Credit Suisse, Goldman, Sachs & Co., BofA Merrill Lynch, DNB Markets, MUFG, Credit Agricole CIB and Standard Chartered are acting as co-managers. The offering is being made only by means of a prospectus. When available, copies of the preliminary prospectus may be obtained from:
Morgan Stanley
Barclays
Citigroup
J.P. Morgan
Wells Fargo Securities A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sales of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Transocean Partners LLC Transocean Partners LLC is a growth-oriented limited liability company formed by Transocean Ltd. to own, operate and acquire modern, technologically advanced offshore drilling rigs. With headquarters in Aberdeen, Scotland, Transocean Partners LLC's assets consist of 51 percent interests in rig-owning and rig-operating companies that own and operate three ultra-deepwater drilling rigs that are currently operating in the U.S. Gulf of Mexico. Forward-Looking Statements This press release contains "forward-looking" statements within the meaning of the federal securities laws. These statements contain words such as "possible," "intend," "will," "if" and "expect" and can be impacted by numerous factors, including the risk that an initial public offering of Transocean Partners may not occur, risks relating to the securities markets generally, the impact of adverse market conditions affecting business of Transocean Partners, adverse changes in laws including with respect to tax and regulatory matters and other risks. There can be no assurance that actual results will not differ from those expected by management of Transocean Partners. Transocean Partners undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which Transocean Partners becomes aware of, after the date hereof. nsocean Ltd., announced today that it has commenced an initial public offering of 17,500,000 common units representing limited liability company interests pursuant to a Registration Statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission ("SEC"). All of the common units are being offered by Transocean Partners Holdings Limited, a wholly owned subsidiary of Transocean Ltd. The underwriters of the offering are expected to be granted a 30-day option to purchase up to an additional 2,625,000 common units from Transocean Partners Holdings Limited. The common units are expected to trade on the New York Stock Exchange under the ticker symbol "RIGP." The common units being offered represent a 25.4 percent limited liability company interest in Transocean Partners LLC, or a 29.2 percent limited liability company interest if the underwriters exercise in full their option to purchase additional common units. Transocean Ltd., through Transocean Partners Holdings Limited, will own the remaining limited liability company interests in Transocean Partners. Morgan Stanley, Barclays, Citigroup, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers for the offering. Credit Suisse, Goldman, Sachs & Co., BofA Merrill Lynch, DNB Markets, MUFG, Credit Agricole CIB and Standard Chartered are acting as co-managers. The offering is being made only by means of a prospectus. When available, copies of the preliminary prospectus may be obtained from:
Morgan Stanley
Barclays
Citigroup
J.P. Morgan
Wells Fargo Securities A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sales of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Transocean Partners LLC Transocean Partners LLC is a growth-oriented limited liability company formed by Transocean Ltd. to own, operate and acquire modern, technologically advanced offshore drilling rigs. With headquarters in Aberdeen, Scotland, Transocean Partners LLC's assets consist of 51 percent interests in rig-owning and rig-operating companies that own and operate three ultra-deepwater drilling rigs that are currently operating in the U.S. Gulf of Mexico. Forward-Looking Statements This press release contains "forward-looking" statements within the meaning of the federal securities laws. These statements contain words such as "possible," "intend," "will," "if" and "expect" and can be impacted by numerous factors, including the risk that an initial public offering of Transocean Partners may not occur, risks relating to the securities markets generally, the impact of adverse market conditions affecting business of Transocean Partners, adverse changes in laws including with respect to tax and regulatory matters and other risks. There can be no assurance that actual results will not differ from those expected by management of Transocean Partners. Transocean Partners undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which Transocean Partners becomes aware of, after the date hereof. |
|
distributed by
|
