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Transocean Bonds Rise on $1.4 Billion Gulf Spill Settlement

Jan. 3 (Bloomberg) -- 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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