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Transocean Ltd. Announces Redemption of Remaining Outstanding 1.50% Series B Convertible Senior Notes Due 2037

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Transocean Ltd. (NYSE: RIG) today announced that Transocean Inc., its wholly-owned subsidiary, has called all of its issued and outstanding 1.50% Series B Convertible Senior Notes Due 2037 for redemption on February 15, 2012. As of January 5, 2012, $29,459,000 principal amount of the notes remained outstanding following the repurchase by Transocean Inc. of $1,650,156,000 principal amount of the notes on December 16, 2011.

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