Transocean Announces Bond Exchange for Company Shares

Transocean ( (RIG) ) just unveiled an update.

On June 20, 2025, Transocean Ltd. announced that its subsidiary, Transocean International Limited, entered into agreements to exchange approximately $157 million of its 4.0% Senior Guaranteed Exchangeable Bonds for company shares. The transactions, which began on June 20, 2025, are subject to a limit price condition and are expected to close by the end of the trading period, impacting the company’s financial structure and shareholder value.

The most recent analyst rating on (RIG) stock is a Buy with a $5.50 price target. To see the full list of analyst forecasts on Transocean stock, see the RIG Stock Forecast page.

Spark’s Take on RIG Stock

According to Spark, TipRanks’ AI Analyst, RIG is a Neutral.

Transocean’s stock score reflects a mixed outlook. Strong technical momentum and a positive earnings call are offset by profitability challenges and valuation concerns. The company’s robust backlog and cost-saving initiatives are positive, but ongoing net losses and asset impairments pose risks.

To see Spark’s full report on RIG stock, click here.

More about Transocean

Transocean Ltd. operates in the offshore drilling industry, providing services for oil and gas exploration and production. The company focuses on optimizing its capital structure to maintain its market position.

Average Trading Volume: 43,410,296

Technical Sentiment Signal: Sell

Current Market Cap: $2.73B

Learn more about RIG stock on TipRanks’ Stock Analysis page.