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			20180720_RIG_Form 8-K_Gemini Pontus Notes Closing
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:18pt;">UNITED STATES</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:18pt;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:18pt;">SECURITIES AND EXCHANGE COMMISSION</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:18pt;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">Washington, D.C. 20549</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:18pt;">FORM 8-K</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:18pt;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">CURRENT REPORT</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">PURSUANT TO SECTION 13 OR 15(d) OF THE</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">SECURITIES EXCHANGE ACT OF 1934</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Date of Report (Date of earliest event reported): July 20, 2018</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:18pt;">TRANSOCEAN LTD.</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:18pt;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">(Exact name of registrant as specified in its charter) </font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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					<p style="margin:0pt;text-align:center;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">Switzerland</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">000-53533</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">98-0599916</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">(State or other jurisdiction of</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">(Commission</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">(I.R.S. Employer</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">incorporation or organization)</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">File Number)</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Identification No.)</font></p>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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					<p style="margin:0pt;text-align:center;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">Turmstrasse 30</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:10pt;">&nbsp;CH-6312</font></p>
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					<p style="margin:0pt;text-align:center;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">Steinhausen, Switzerland</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">(Address of principal executive offices)</font></p>
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					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">(zip code)</font></p>
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		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Registrant</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x2019;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">s telephone number, including area code: </font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">+41 (41) 749-0500</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">(Former name or former address, if changed since last report) </font>
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		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;color:#000000;font-size:10pt;">see</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;"> General Instruction A.2. below): </font>
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		<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:8pt;">&nbsp; &nbsp;</font>
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			<font style="display:inline;font-family:Segoe UI Symbol;color:#000000;font-size:10pt;">&#x2610;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;"> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font>
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		<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:8pt;">&nbsp; &nbsp;</font>
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			<font style="display:inline;font-family:Segoe UI Symbol;color:#000000;font-size:10pt;">&#x2610;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font>
		</p>
		<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:8pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Segoe UI Symbol;color:#000000;font-size:10pt;">&#x2610;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;"> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font>
		</p>
		<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:8pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Segoe UI Symbol;color:#000000;font-size:10pt;">&#x2610;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;"> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;font-family:Calibri;line-height:100%;font-size: 10pt;">
			<a name="P297461307"></a><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (&#xA7;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#xA7;240.12b-2 of this chapter). </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Emerging growth company </font><font style="display:inline;font-family:Segoe UI Emoji;color:#000000;font-size:10pt;">&#x25FB;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </font><font style="display:inline;font-family:Segoe UI Emoji;color:#000000;font-size:10pt;">&#x25FB;</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:11pt;"></font></p></div><div style="margin-left:8.82352941176471%;margin-right:8.82352941176471%;">
		<p><font size="1"> </font></p></div><div style="margin-left:8.82352941176471%;margin-right:8.82352941176471%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:8.82352941176471%;margin-right:8.82352941176471%;"></div><div style="margin-left:8.82352941176471%;margin-right:8.82352941176471%;"><p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 11pt;"><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:11pt;">&nbsp;</font>
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		<p style="margin:12pt 0pt;line-height:normal;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">Item 1.01</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">Entry into a Material Definitive Agreement</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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		<p style="margin:5pt 0pt 9pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">On July 20, 2018, in connection with the closing of the previously-announced offering by Transocean Pontus Limited (the </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Issuer</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201D;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">), a wholly-owned indirect subsidiary of Transocean Ltd., of U.S. $600 million in aggregate principal amount of&nbsp;&nbsp;6.125% senior secured notes due 2025 (the </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Notes</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201D;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">), the Issuer entered into an indenture (the </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Indenture</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201D;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">) with Transocean Ltd., Transocean Inc. (&#x201C;TINC&#x201D;) and Triton Gemini GmbH (collectively, the </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Guarantors</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201D;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">) and Wells Fargo Bank, National Association, as trustee and collateral agent. </font>
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		<p style="margin:5pt 0pt 9pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">The Notes are secured by a lien on the </font><font style="display:inline;font-family:Times New Roman,Times,serif;font-style:italic;color:#000000;font-size:10pt;">Deepwater Pontus </font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">and certain other assets related to the rig. The Notes are fully and unconditionally guaranteed, jointly and severally, by the Guarantors on a senior basis (the </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Guarantees</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201D;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">). The Notes have not been registered under the U.S. Securities Act of 1933, as amended (the </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201C;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Securities Act</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&#x201D;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">), or under any state securities laws, and were offered only to qualified institutional buyers under Rule 144A under the Securities Act and outside the Unites States in compliance with Regulation S under the Securities Act. </font>
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		<p style="margin:5pt 0pt 9pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">The terms of the Notes are governed by the Indenture, which contains covenants that, among other things, (i) limit the activities of the Issuer, the owner of the collateral rig and the operator of the collateral rig, (ii) limit the ability of TINC and its subsidiaries to incur liens and engage in certain sale and lease-back transactions, (iii) limit the ability of TINC&#x2019;s subsidiaries to incur indebtedness, and (iv) limit the ability of the Issuer and the Guarantors to consolidate, merge or enter into a scheme of arrangement qualifying as an amalgamation. The Indenture also contains customary events of default. Indebtedness under the Notes may be accelerated in certain circumstances upon an event of default as set forth in the Indenture. </font>
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		<p style="margin:0pt 0pt 9pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">The description above does not purport to be complete and is qualified in its entirety by the Indenture filed herewith as Exhibit 4.1 to this Current Report on Form 8-K. </font>
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		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Calibri;line-height:100%;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</font>
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		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Calibri;line-height:100%;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:10pt;">The information described in Item 1.01 is incorporated herein by reference.</font>
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		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">Item 9.01 Financial Statements and Exhibits</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">(d) Exhibits. </font>
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			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:1pt;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:normal;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Exhibit No</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:8pt;">.</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:normal;color:#000000;font-family:Arial,Helvetica,sans-serif;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:8pt;">Description</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">4.1</font></p>
					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<a href="c505-20180724ex41490256f.htm"><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Indenture, dated July 20, 2018, by and among Transocean Pontus Limited, the Guarantors and Wells Fargo Bank, National Association, as trustee and collateral agent</font></a></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:11pt;"></font></p></div><div style="margin-left:8.82352941176471%;margin-right:8.82352941176471%;">
		<p><font size="1"> </font></p></div><div style="margin-left:8.82352941176471%;margin-right:8.82352941176471%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:8.82352941176471%;margin-right:8.82352941176471%;"></div><div style="margin-left:8.82352941176471%;margin-right:8.82352941176471%;"><p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 11pt;"><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:10pt;">SIGNATURES</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp; &nbsp;</font>
		</p>
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						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">TRANSOCEAN LTD.</font></p>
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					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Date: July 24, 2018</font></p>
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					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">By:</font></p>
				</td>
				<td valign="top" style="width:220.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">/s/ Daniel Ro-Trock</font></p>
				</td>
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					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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				<td valign="top" style="width:34.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:220.70pt;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Daniel Ro-Trock</font></p>
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						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">&nbsp;</font></p>
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				<td valign="top" style="width:220.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 0pt 0pt 0pt;">
					<p style="margin:0pt;color:#000000;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:10pt;">Authorized Person</font></p>
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		<p style="margin:0pt;line-height:100%;font-family:Arial,Helvetica,sans-serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
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{"company-data": {"conformed-name": "Transocean Ltd.", "cik": "0001451505", "assigned-sic": "1381", "irs-number": "980599916", "state-of-incorporation": "V8", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-38373", "film-number": "18966701"}, "business-address": {"street1": "TURMSTRASSE 30", "city": "STEINHAUSEN", "state": "V8", "zip": "6312", "phone": "41 41 749 0500"}, "mail-address": {"street1": "TURMSTRASSE 30", "city": "STEINHAUSEN", "state": "V8", "zip": "6312"}}
20180720_RIG_Form 8-K_Gemini Pontus Notes Closing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 20, 2018
TRANSOCEAN LTD.
(Exact name of registrant as specified in its charter)
Switzerland
000-53533
98-0599916
(State or other jurisdiction of
(Commission
(I.R.S. Employer
incorporation or organization)
File Number)
Identification No.)
Turmstrasse 30
CH-6312
Steinhausen, Switzerland
(Address of principal executive offices)
(zip code)
Registrant
'
s telephone number, including area code:
+41 (41) 749-0500
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
◻
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
◻
Item 1.01
Entry into a Material Definitive Agreement
On July 20, 2018, in connection with the closing of the previously-announced offering by Transocean Pontus Limited (the
"
Issuer
"
), a wholly-owned indirect subsidiary of Transocean Ltd., of U.S. $600 million in aggregate principal amount of  6.125% senior secured notes due 2025 (the
"
Notes
"
), the Issuer entered into an indenture (the
"
Indenture
"
) with Transocean Ltd., Transocean Inc. ("TINC") and Triton Gemini GmbH (collectively, the
"
Guarantors
"
) and Wells Fargo Bank, National Association, as trustee and collateral agent.
The Notes are secured by a lien on the
Deepwater Pontus
and certain other assets related to the rig. The Notes are fully and unconditionally guaranteed, jointly and severally, by the Guarantors on a senior basis (the
"
Guarantees
"
). The Notes have not been registered under the U.S. Securities Act of 1933, as amended (the
"
Securities Act
"
), or under any state securities laws, and were offered only to qualified institutional buyers under Rule 144A under the Securities Act and outside the Unites States in compliance with Regulation S under the Securities Act.
The terms of the Notes are governed by the Indenture, which contains covenants that, among other things, (i) limit the activities of the Issuer, the owner of the collateral rig and the operator of the collateral rig, (ii) limit the ability of TINC and its subsidiaries to incur liens and engage in certain sale and lease-back transactions, (iii) limit the ability of TINC's subsidiaries to incur indebtedness, and (iv) limit the ability of the Issuer and the Guarantors to consolidate, merge or enter into a scheme of arrangement qualifying as an amalgamation. The Indenture also contains customary events of default. Indebtedness under the Notes may be accelerated in certain circumstances upon an event of default as set forth in the Indenture.
The description above does not purport to be complete and is qualified in its entirety by the Indenture filed herewith as Exhibit 4.1 to this Current Report on Form 8-K.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information described in Item 1.01 is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit No
.
Description
4.1
Indenture, dated July 20, 2018, by and among Transocean Pontus Limited, the Guarantors and Wells Fargo Bank, National Association, as trustee and collateral agent
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TRANSOCEAN LTD.
Date: July 24, 2018
By:
/s/ Daniel Ro-Trock
Daniel Ro-Trock
Authorized Person