Transocean Ltd.
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A drilling contractor that operates a fleet of floating rigs — drillships, semisubmersibles and jackups — to drill offshore oil and gas wells in deep and harsh waters, and today counts among the world's largest. It traces its roots to The Offshore Company, which in 1954 launched the world's first mobile jackup rig, and took its name in 1996 when an American firm bought a Norwegian driller called Transocean. The name itself simply means "across the ocean," a nod to its work far from shore.
0.5% Exchangeable Senior Bonds due 2023
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