Daily News: July 3, 2014

JPMorgan Chase Agents Transocean Amended Facility

On June 30, 2014, Transocean entered into an amended and restated credit agreement with a group of lenders. According to an 8-K, JPMorgan Chase Bank acted as administrative agent, Citibank and DNB Bank-New York served as co-syndication agents, and The Bank of Tokyo-Mitsubishi UFJ, Cr dit Agricole Corporate and Investment Bank and Wells Fargo Bank acted as co-documentation agents.

The five-year revolver amends and restates the company’s existing credit agreement dated as of November 1, 2011, as amended by the First Amendment to Credit Agreement dated March 23, 2012.

The revolver establishes a $3 billion unsecured revolver scheduled to expire on June 28, 2019. It includes a $1 billion sublimit for the issuance of letters of credit, and all borrowings are guaranteed by Transocean.