Transocean Bonds Rise on $1.4 Billion Gulf Spill Settlement

Bonds of Transocean Ltd. climbed after the offshore driller settled federal claims related to the 2010 Deepwater Horizon rig explosion and spill in the Gulf of Mexico.

Transocean’s $750 million of 3.8 percent securities maturing in October 2022 rose 0.9 cent to 104 cents on the dollar to yield 3.3 percent as of 12:27 p.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

The company, based in Vernier, Switzerland, will pay more than $1.4 billion, including a $400 million criminal penalty, according to a court filing.

To contact the reporter on this story: Charles Mead in New York at cmead11@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

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