<SEC-DOCUMENT>0001558370-16-006560.txt : 20160705
<SEC-HEADER>0001558370-16-006560.hdr.sgml : 20160705
<ACCEPTANCE-DATETIME>20160705074533
ACCESSION NUMBER:		0001558370-16-006560
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20160705
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160705
DATE AS OF CHANGE:		20160705

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Transocean Ltd.
		CENTRAL INDEX KEY:			0001451505
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				980599916
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-53533
		FILM NUMBER:		161748200

	BUSINESS ADDRESS:	
		STREET 1:		BLANDONNET INTERNATIONAL BUSINESS CENTER
		STREET 2:		BLDG F, 7TH FLOOR, CHEMIN DE BLANDONNET
		CITY:			VERNIER
		STATE:			V8
		ZIP:			1214
		BUSINESS PHONE:		41-58-792-9243

	MAIL ADDRESS:	
		STREET 1:		BLANDONNET INTERNATIONAL BUSINESS CENTER
		STREET 2:		BLDG F, 7TH FLOOR, CHEMIN DE BLANDONNET
		CITY:			VERNIER
		STATE:			V8
		ZIP:			1214
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>rig-20160705x8k.htm
<DESCRIPTION>8-K
<TEXT>
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		<title>
			RIG_Currentfolio_8-K_2016-07-05_ Notes Offering and Tender Offer
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			&nbsp;

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			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;font-size:18pt;">UNITED STATES</font><a name="Section_1"></a>
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		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 18pt;">
			<font style="display:inline;font-weight:bold;font-size:18pt;">SECURITIES AND EXCHANGE COMMISSION</font>
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		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;">Washington, D.C. 20549</font>
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			<font style="display:inline;">&nbsp;</font>
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			<font style="display:inline;font-weight:bold;font-size:18pt;">FORM&nbsp;8-K</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">CURRENT REPORT</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">PURSUANT TO SECTION&nbsp;13 OR 15(d)&nbsp;OF THE</font>
		</p>
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			<font style="display:inline;font-weight:bold;font-size:12pt;">SECURITIES EXCHANGE ACT OF 1934</font>
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			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">Date of Report (Date of earliest event reported):&nbsp;&nbsp;July 5, 2016</font>
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			<font style="display:inline;">&nbsp;</font>
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			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 18pt;">
			<font style="display:inline;font-weight:bold;font-size:18pt;">TRANSOCEAN LTD.</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">(Exact name of registrant as specified in its charter)</font>
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			<font style="display:inline;">&nbsp;</font>
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			<font style="display:inline;">&nbsp;</font>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:2pt 3pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;color:#000000;">Switzerland</font></p>
				</td>
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						&nbsp;</p>
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					<p style="margin:2pt 3pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;color:#000000;">000-53533</font></p>
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					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
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					<p style="margin:2pt 3pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;color:#000000;">98-0599916</font></p>
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					<p style="margin:2pt 3pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;">(State or other jurisdiction of</font></p>
					<p style="margin:0pt 3pt 2pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;">incorporation or organization)</font></p>
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						&nbsp;</p>
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						<font style="display:inline;">(Commission</font></p>
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						<font style="display:inline;">File Number)</font></p>
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						<font style="display:inline;">(I.R.S. Employer</font></p>
					<p style="margin:0pt 3pt 2pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;">Identification No.)</font></p>
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			<font style="display:inline;">&nbsp;</font>
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			<font style="display:inline;">&nbsp;</font>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:2pt 3pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;">10 Chemin de Blandonnet</font></p>
					<p style="margin:0pt 3pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;">1214 Vernier, Geneva</font></p>
					<p style="margin:0pt 3pt 2pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;">Switzerland</font></p>
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					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
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					<p style="margin:2pt 3pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;color:#000000;">CH-1214</font></p>
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				<td valign="top" style="border-right:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:48.04%;padding:0pt 3pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 3pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;color:#000000;">(Address of principal executive offices)</font></p>
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				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:03.72%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
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						&nbsp;</p>
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					<p style="margin:2pt 3pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;color:#000000;">(zip code)</font></p>
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		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">Registrant&#x2019;s telephone number, including area code: </font><font style="display:inline;font-weight:bold;">+41 (22)&nbsp;930-9000</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">(Former name or former address, if changed since last report)</font>
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		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</font><font style="display:inline;font-style:italic;">see</font><font style="display:inline;"> General Instruction A.2. below):</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;font-size:3pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;"> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;font-size:3pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;"> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;font-size:3pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;"> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;font-size:3pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;"> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			</p></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;"><div style="width:100%">

		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;"><p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;"><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:12pt 0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;">Item 7.01</font><font style="display:inline;"> &nbsp;&nbsp; </font><font style="display:inline;font-weight:bold;">Regulation FD</font>
		</p>
		<p style="margin:0pt 0pt 9pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">On July 5, 2016, Transocean Ltd. announced that Transocean Inc., its wholly-owned subsidiary, commenced an offering (the &#x201C;Offering&#x201D;) of US$1.5 billion aggregate principal amount of senior unsecured notes due 2023 to eligible purchasers under Rule 144A/Regulation S of the Securities Act of 1933, as amended. The notes will be guaranteed by Transocean Ltd. and certain of Transocean Inc.&#x2019;s subsidiaries. </font>
		</p>
		<p style="margin:0pt 0pt 9pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">Simultaneously</font><font style="display:inline;color:#000000;"> with the Offering, Transocean Inc. is conducting a tender offer (the &#x201C;Tender Offer&#x201D;) to purchase for cash US$1 </font><font style="display:inline;">billion</font><font style="display:inline;color:#000000;"> principal amount of its 6.500% Senior Notes due 2020, 6.375% Senior Notes due 2021 and 3.800% Senior Notes due 2022 (the &#x201C;Existing Notes&#x201D;), subject to the terms and conditions specified in the related offer to purchase (the &#x201C;Offer to Purchase&#x201D;). The Tender Offer will expire at 11:59 P.M., New York City time, on August 1, 2016, subject to any extension.</font><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 9pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;color:#000000;">The Tender Offer is subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Offer to Purchase, including, among others, Transocean Inc. having raised net proceeds through the Offering or other issuances of debt in the public or private capital markets, on reasonably satisfactory terms, sufficient to purchase all of the Existing Notes validly tendered (and not validly withdrawn) and accepted for purchase in the Tender Offer and to pay accrued interest and all fees and expenses in connection with the Tender Offer. </font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">The Offering is not conditioned upon the consummation of the Tender Offer.</font><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 9pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;color:#000000;">Transocean Inc. intends to use US$1 billion of the proceeds from the Offering to repurchase the Existing Notes, as described in the Offer to Purchase.&nbsp;&nbsp;The remaining proceeds of Offering not applied to the Tender Offer are intended to be used to refinance existing indebtedness and for general corporate purposes.</font>
		</p>
		<p style="margin:0pt 0pt 9pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">A copy of the press releases announcing the Offering and the Tender Offer are furnished herewith as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.</font>
		</p>
		<p style="margin:0pt 0pt 9pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">Since</font><font style="display:inline;"> March 31, 2016, Transocean Ltd. or one or more of its subsidiaries has repurchased in the open market an aggregate principal amount of </font><font style="display:inline;">US</font><font style="display:inline;">$228 million of Transocean Inc.&#x2019;s debt securities</font><font style="display:inline;"> for an aggregate cash payment of US$189 million</font><font style="display:inline;">.&nbsp;&nbsp;As a result of the repurchases, the aggregate principal amounts of the following Transocean Inc. notes has been retired: </font><font style="display:inline;">US</font><font style="display:inline;">$36 million of the 5.05% Senior Notes due 2016, </font><font style="display:inline;">US</font><font style="display:inline;">$38 million of the 2.5% Senior Notes due 2017, </font><font style="display:inline;">US</font><font style="display:inline;">$20 million of the 6.0% Senior Notes due 2018, </font><font style="display:inline;">US</font><font style="display:inline;">$26 million of the 7.375% Senior Notes due 2018, </font><font style="display:inline;">US</font><font style="display:inline;">$13 million of the 6.5% Senior Notes due 2020, </font><font style="display:inline;">US</font><font style="display:inline;">$44 million of the 6.375% Senior Notes due 2021, </font><font style="display:inline;">US</font><font style="display:inline;">$38 million of the 3.8% Senior Notes due 2022, </font><font style="display:inline;">US</font><font style="display:inline;">$8 million of the 7.45% Senior Notes due 2027 and </font><font style="display:inline;">US</font><font style="display:inline;">$5 million of the 7.5% Senior Notes due 2031.</font>
		</p>
		<p style="margin:0pt 0pt 9pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">The</font><font style="display:inline;"> information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.1, is being &#x201C;furnished&#x201D; pursuant to Item 7.01 and shall not be deemed to be &#x201C;filed&#x201D; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any Transocean Ltd. filing, whether made before or after the date hereof, regardless of any general incorporation language in such filing.</font><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;">Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">(d)&nbsp; Exhibits.</font>
		</p>
		<p style="margin:0pt 0pt 7pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width:513.00pt;margin-left:3pt;">
			<tr>
				<td valign="bottom" style="width:55.00pt;padding:0pt 0pt 0pt 3pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;">
						<font style="display:inline;">&nbsp;</font></p>
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size: 10pt;">
						<font style="display:inline;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</font></p>
				</td>
				<td valign="top" style="width:04.00pt;padding:0pt 0pt 0pt 3pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:33.00pt;padding:0pt 0pt 0pt 3pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:421.00pt;padding:0pt 0pt 0pt 3pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="bottom" style="width:59.00pt;padding:0pt 2pt 0pt 3pt;height:12.00pt">
					<p style="margin:2pt 2pt 2pt 0pt;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;color:#000000;font-size:8pt;text-decoration:underline;">Exhibit&nbsp;No.</font></p>
				</td>
				<td valign="bottom" style="width:33.00pt;padding:0pt 0pt 0pt 3pt;height:12.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:421.00pt;padding:0pt 3pt 0pt 3pt;height:12.00pt">
					<p style="margin:2pt 3pt;font-family:Times New Roman,Times,serif;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;color:#000000;font-size:8pt;text-decoration:underline;">Description</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:55.00pt;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:04.00pt;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:33.00pt;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:421.00pt;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:55.00pt;height:27.70pt;color:#000000;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:1pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>99.1
				</td>
				<td valign="top" style="width:04.00pt;padding:0pt 0pt 0pt 3pt;height:27.70pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:33.00pt;padding:0pt 0pt 0pt 3pt;height:27.70pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:421.00pt;padding:0pt 2pt 0pt 3pt;height:27.70pt">
					<p style="margin:2pt 3pt 0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;">Press Release Announcing </font><font style="display:inline;">Offering</font><font style="display:inline;"> of Notes</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:55.00pt;height:27.70pt;color:#000000;font-family:Times New Roman,Times,serif;font-size:10pt;padding-right:1pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>99.2
				</td>
				<td valign="top" style="width:04.00pt;padding:0pt 0pt 0pt 3pt;height:27.70pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:33.00pt;padding:0pt 0pt 0pt 3pt;height:27.70pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:421.00pt;padding:0pt 2pt 0pt 3pt;height:27.70pt">
					<p style="margin:2pt 3pt 0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;">Press Release Announcing Tender Offer</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:2pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			</p></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;"><div style="width:100%">

		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;"><p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;"><font style="display:inline;font-weight:bold;">SIGNATURES</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 9pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 7pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:48.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 0pt 0pt 3pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size: 10pt;">
						<font style="display:inline;">Une </font></p>
				</td>
				<td valign="bottom" style="width:05.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 0pt 0pt 3pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:45.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 0pt 0pt 3pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:48.82%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:51.18%;padding:0pt 2pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 3pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;color:#000000;">TRANSOCEAN LTD.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:48.82%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:05.46%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:45.70%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:48.82%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:05.46%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:45.70%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:48.82%;padding:0pt 2pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 3pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;color:#000000;">Date: July 5, 2016</font></p>
				</td>
				<td valign="top" style="width:05.46%;padding:0pt 2pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 3pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;color:#000000;">By</font></p>
				</td>
				<td valign="top" style="width:45.70%;border-bottom:1pt solid #000000 ;padding:0pt 2pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 3pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;color:#000000;">/s/ Daniel Ro-Trock</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:48.82%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:05.46%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:45.70%;padding:0pt 2pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 3pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;color:#000000;">Daniel Ro-Trock</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:48.82%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:05.46%;padding:0pt 0pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 0pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:45.70%;padding:0pt 2pt 0pt 3pt;height:14.00pt">
					<p style="margin:2pt 3pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						<font style="display:inline;color:#000000;">Authorized Person</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			</p></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;"><div style="width:100%">

		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;"><p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;font-weight:bold;font-size:12pt;">Index to Exhibits</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">Exhibit</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;color:#000000;text-decoration:underline;">Number</font><font style="display:inline;color:#000000;text-decoration:underline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;color:#000000;text-decoration:underline;">Description</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">99.1</font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">Press Release Announcing </font><font style="display:inline;">Offering</font><font style="display:inline;"> of Notes</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">99.2</font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">Press Release Announcing Tender Offer</font>
		</p>
		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:8.16993464052288%;margin-right:8.16993464052288%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;line-height:144.17%;font-family:Times New Roman,Times,serif;font-size: 10pt;">

			&nbsp;

		</p>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>rig-20160705ex9912eb444.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!--HTML document created with Merrill Bridge  6.2.124.0-->
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<html>
	<head>
		<title>
			Press Release 991_ 2016-07-05_Notes Offering
		</title>
	</head>
	<body><div style="margin-left:1.1437908496732%;margin-right:1.1437908496732%;"></div><div style="margin-left:1.1437908496732%;margin-right:1.1437908496732%;">
		<p style="margin:0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="OLE_LINK1"></a><a name="_GoBack"></a><font style="text-indent:0pt;margin-left:0pt; padding-right:13.15pt;"></font><font style="text-indent:0pt;margin-left:0pt; padding-right:337.1pt;text-align:left"><font style="display:inline;font-family:Univers;font-size:12pt;"></font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:18.9pt;text-align:left"><font style="display:inline;font-family:Univers;font-size:12pt;"></font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:34pt;text-align:left"><font style="display:inline;font-family:Univers;font-size:12pt;"></font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;font-family:Univers;font-size:12pt;"></font><font style="display:inline;font-weight:bold;font-size:12pt;">Exhibit 99.1</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 15.15pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 15.15pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;"><img src="rig20160705ex9912eb444001.jpg" style="width: 2.677356in; height: 0.55in" alt="Picture 2"></font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 27.35pt;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size: 12pt;">
			<br /><font style="display:inline;font-weight:bold;"></font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:left;font-family:Univers;font-size: 14pt;">
			<font style="display:inline;font-weight:bold;">TRANSOCEAN LTD. ANNOUNCES OFFERING OF NOTES</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 48.95pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">ZUG, SWITZERLAND &#x2013; July 5, 2016</font><font style="display:inline;"> &#x2013; </font><font style="display:inline;font-size:12pt;">Transocean Ltd. (NYSE: RIG) announced today that Transocean Inc., its wholly-owned subsidiary (collectively with Transocean Ltd., &#x201C;Transocean&#x201D;), has commenced an offering of U.S. $1.5 billion aggregate principal amount of senior unsecured notes pursuant to Rule 144A/Regulation S to eligible purchasers. The notes will be guaranteed by Transocean Ltd. and certain of Transocean Inc.&#x2019;s subsidiaries. </font>
		</p>
		<p style="margin:0pt 48.95pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 48.95pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Transocean intends to use a portion of the net proceeds from the offering to fund its tender offers to purchase for cash up to U.S. $1.0 billion aggregate principal amount of its 6.500% Senior Notes due 2020, 6.375% Senior Notes due 2021 and 3.800% Senior Notes due 2022 (collectively, the &#x201C;Existing Notes&#x201D;), subject to the terms and conditions specified in the related offer to purchase, and a portion of the net proceeds from the offering are intended to be used for general corporate purposes. Should the tender offers not be consummated, or if net proceeds allocated to fund the tender offers remain following consummation of the tender offers, Transocean Inc. intends to also use such net proceeds for general corporate purposes.</font>
		</p>
		<p style="margin:0pt 48.95pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 48.95pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the &#x201C;Securities Act&#x201D;), or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The securities to be offered may not be publicly offered, sold or advertised, directly or indirectly, in Switzerland. </font><a name="_cp_text_1_5"></a><font style="display:inline;font-size:12pt;">This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of these securities in the United States, shall not constitute an offer, solicitation or sale of any securities in any jurisdiction where such offering or sale would be unlawful and does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations. This press release shall not constitute an offer to purchase the Existing Notes. The tender offers are being made only pursuant to the offer to purchase. This press release contains information about pending transactions, and there can be no assurance that these transactions will be completed. Any public offering of Transocean&#x2019;s securities in the United States will be made only by means of a prospectus that will contain detailed information about Transocean and its management, as well as financial statements. There shall not be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.</font><font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 48.95pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 48.6pt 12pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">About Transocean</font>
		</p>
		<p style="margin:0pt 48.6pt 12pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular </font><font style="display:inline;font-size:12pt;"></font></p></div><div style="margin-left:1.1437908496732%;margin-right:1.1437908496732%;">
		<p><font size="1"> </font></p></div><div style="margin-left:1.1437908496732%;margin-right:1.1437908496732%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:1.1437908496732%;margin-right:1.1437908496732%;"></div><div style="margin-left:1.1437908496732%;margin-right:1.1437908496732%;"><p style="margin:0pt 48.6pt 12pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;font-size:12pt;">focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.</font>
		</p>
		<p style="margin:0pt 48.95pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Transocean owns or has partial ownership interests in, and operates a fleet of, 60 mobile offshore drilling units consisting of 29 ultra-deepwater floaters, seven harsh-environment floaters, four deepwater floaters, 10 midwater floaters, and 10 high-specification jackups. In addition, the company has five ultra-deepwater drillships and five high-specification jackups under construction.</font>
		</p>
		<p style="margin:0pt 48.95pt 0pt 27.35pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 48.6pt 12pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">Forward-Looking Statements</font>
		</p>
		<p style="margin:0pt 48.6pt 12pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as &#x201C;forward-looking statements&#x201D;). Forward-looking statements include statements regarding Transocean Inc.&#x2019;s plans to issue notes and use the proceeds to fund the tender offers.&nbsp; </font>
		</p>
		<p style="margin:0pt 48.6pt 12pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Transocean to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, risks relating to the closing of Transocean Inc.&#x2019;s offering of the notes, conditions in financial markets, investor response to Transocean Inc.&#x2019;s offering of notes and the tender offers, and other risk factors as detailed from time to time in Transocean Ltd.&#x2019;s reports filed with the U.S. Securities and Exchange Commission. </font>
		</p>
		<p style="margin:0pt 48.6pt 12pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Readers are cautioned against unduly relying on forward-looking statements. Forward-looking statements are made as of the date of the relevant document and, except as required by law, Transocean undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise.</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">Analyst Contacts:</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Bradley Alexander</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">+1 713-232-7515</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Diane Vento</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">+1 713-232-8015</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">Media </font><font style="display:inline;font-weight:bold;font-size:12pt;">Contact</font><font style="display:inline;font-weight:bold;font-size:12pt;">:</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Pam Easton</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">+1 713-232-7647</font>
		</p>
		<p style="margin:0pt 39.3pt 0pt 27pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>

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		<p><font size="1"> </font></p></div><div style="margin-left:1.1437908496732%;margin-right:1.1437908496732%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>rig-20160705ex9920a2ba9.htm
<DESCRIPTION>EX-99.2
<TEXT>
<!--HTML document created with Merrill Bridge  6.2.124.0-->
<!--Created on: 7/5/2016 6:40:28 AM-->
<html>
	<head>
		<title>
			Press Release 992_ 2016-07-05_Tender Offer
		</title>
	</head>
	<body><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;">
		<p style="margin:0pt;text-align:right;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="OLE_LINK1"></a><a name="_GoBack"></a><font style="display:inline;font-weight:bold;font-size:12pt;">Exhibit 99.2</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;"><img src="rig20160705ex9920a2ba9001.jpg" style="width: 2.677356in; height: 0.55in" alt="Picture 2"></font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:27.35pt;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:left;font-family:Univers;font-size: 14pt;">
			<font style="display:inline;font-weight:bold;">TRANSOCEAN LTD. ANNOUNCES CASH TENDER OFFERS</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="T0"></a><font style="display:inline;font-size:12pt;">ZUG, SWITZERLAND &#x2013; July 5, 2016</font><font style="display:inline;"> &#x2013; </font><font style="display:inline;font-size:12pt;">Transocean Ltd. (NYSE: RIG)</font><a name="T1"></a><font style="display:inline;font-size:12pt;"> announced today that Transocean Inc., its wholly-owned subsidiary</font><font style="display:inline;font-size:12pt;"> (collectively with Transocean Ltd., &#x201C;Transocean&#x201D;), has commenced cash tender offers (the &#x201C;Tender Offers&#x201D;) to purchase up to U.S. $1.0 billion aggregate principal amount (as it may be increased by Transocean Inc., the &#x201C;Aggregate Maximum Tender Amount&#x201D;) of the following series of notes issued by Transocean Inc.: </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9;font-size:12pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt;">
			<font style="display:inline;font-size:12pt;color:#000000;">6.500% Senior Notes due 2020 (the &#x201C;2020 Notes&#x201D;)</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:12pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt;">
			<font style="display:inline;font-size:12pt;color:#000000;">6.375% Senior Notes due 2021 (the &#x201C;2021 Notes&#x201D;) and</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9;font-size:12pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt;">
			<font style="display:inline;font-size:12pt;color:#000000;">3.800% Senior Notes due 2022 (the &#x201C;2022 Notes&#x201D; and, together with the 2020 Notes and the 2021 Notes, the &#x201C;Notes&#x201D;).</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">The terms and conditions of the Tender Offers are described in an Offer to Purchase, dated July 5, 2016 (the &#x201C;Offer to Purchase&#x201D;). Transocean Inc. reserves the right, but is under no obligation, to increase the Aggregate Maximum Tender Amount or the Tender Cap (as defined below) without extending withdrawal rights except as required by law. The amounts of each series of Notes to be purchased may be prorated as set forth in the Offer to Purchase.</font>
		</p>
		<p style="margin:0pt;text-indent: -3pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-size:7pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:97.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:1pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:54.85pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:1pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:47.15pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:55.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:1pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:61.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:1pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:57.95pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:1pt;text-indent: -6.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:53.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:1pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:57.65pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:1pt;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:49.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:1pt;text-indent: -6.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:97.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 5.8pt 0pt 0pt;">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:54.85pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:47.15pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:55.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:61.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:57.95pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="3" valign="top" style="width:161.05pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;text-indent: -3pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">
						<font style="display:inline;font-weight:bold;font-size:7pt;">Dollars per U.S. $1,000 Principal Amount of Notes</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:97.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 5.8pt 0pt 0pt;">
					<p style="margin:6pt 0pt 0pt;line-height:115%;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">&nbsp;</font></p>
					<p style="margin:6pt 0pt 0pt;line-height:115%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
					<p style="margin:6pt 0pt 0pt;line-height:115%;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">Title of Notes </font></p>
				</td>
				<td valign="bottom" style="width:54.85pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:6pt 0pt 0pt;line-height:115%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
					<p style="margin:6pt 0pt 0pt;line-height:115%;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">C</font><font style="display:inline;font-weight:bold;font-size:6pt;">urrent</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">Coupon</font><font style="display:inline;font-weight:bold;font-size:6pt;font-size:3pt;top:-2.4pt;position:relative;line-height:115%">(2)</font></p>
				</td>
				<td valign="bottom" style="width:47.15pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:6pt 0pt 0pt;line-height:115%;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
					<p style="margin:6pt 0pt 0pt;line-height:115%;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">CUSIP</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">Number</font></p>
				</td>
				<td valign="top" style="width:55.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:6pt 0pt 0pt;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">Aggregate</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">Principal</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">Amount</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">Outstanding</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">(U.S.$)</font></p>
				</td>
				<td valign="bottom" style="width:61.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:6pt 0pt 0pt;line-height:115%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
					<p style="margin:6pt 0pt 0pt;line-height:115%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">Tender&nbsp;Cap</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">(U.S.$)</font></p>
				</td>
				<td valign="bottom" style="width:57.95pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:6pt 0pt 0pt;line-height:115%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
					<p style="margin:6pt 0pt 0pt;line-height:115%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">Acceptance</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">Priority&nbsp;Level</font></p>
				</td>
				<td valign="bottom" style="width:53.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:6pt 0pt 0pt;line-height:115%;text-align:center;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">Tender Offer</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">Consideration</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">(U.S.$)</font></p>
				</td>
				<td valign="bottom" style="width:57.65pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">Early</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">Tender</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">Payment</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">(U.S.$)</font></p>
				</td>
				<td valign="bottom" style="width:49.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">Total Consideration</font><font style="display:inline;font-weight:bold;font-size:6pt;font-size:3pt;top:-4pt;position:relative;line-height:100%">(1)</font><br /><font style="display:inline;font-weight:bold;font-size:6pt;">(U.S.$)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:97.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 5.8pt 0pt 0pt;">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">6.500% Senior Notes due 2020</font></p>
				</td>
				<td valign="top" style="width:54.85pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">6.500%</font></p>
				</td>
				<td valign="top" style="width:47.15pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">893830AY5</font></p>
				</td>
				<td valign="top" style="width:55.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$887,164,000</font></p>
				</td>
				<td valign="top" style="width:61.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">N/A</font></p>
				</td>
				<td valign="top" style="width:57.95pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">1</font></p>
				</td>
				<td valign="top" style="width:53.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$915.00</font></p>
				</td>
				<td valign="top" style="width:57.65pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$30</font></p>
				</td>
				<td valign="top" style="width:49.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$945.00</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:97.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #EBEBEC;padding:0pt 5.8pt 0pt 0pt;">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">6.375% Senior Notes due 2021</font></p>
				</td>
				<td valign="top" style="width:54.85pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #EBEBEC;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">8.125%</font></p>
				</td>
				<td valign="top" style="width:47.15pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #EBEBEC;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">893830BB4</font></p>
				</td>
				<td valign="top" style="width:55.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #EBEBEC;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$1,105,170,000</font></p>
				</td>
				<td valign="top" style="width:61.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #EBEBEC;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">N/A</font></p>
				</td>
				<td valign="top" style="width:57.95pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #EBEBEC;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">2</font></p>
				</td>
				<td valign="top" style="width:53.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #EBEBEC;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$870.00</font></p>
				</td>
				<td valign="top" style="width:57.65pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #EBEBEC;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$30</font></p>
				</td>
				<td valign="top" style="width:49.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #EBEBEC;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$900.00</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:97.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 5.8pt 0pt 0pt;">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-weight:bold;font-size:6pt;">3.800% Senior Notes due 2022</font></p>
				</td>
				<td valign="top" style="width:54.85pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">5.050%</font><font style="display:inline;font-size:6pt;font-size:3pt;top:-2.4pt;position:relative;line-height:115%">(3)</font></p>
				</td>
				<td valign="top" style="width:47.15pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">893830BC2</font></p>
				</td>
				<td valign="top" style="width:55.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$696,500,000</font></p>
				</td>
				<td valign="top" style="width:61.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$200,000,000</font></p>
				</td>
				<td valign="top" style="width:57.95pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">3</font></p>
				</td>
				<td valign="top" style="width:53.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$730.00</font></p>
				</td>
				<td valign="top" style="width:57.65pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$30</font></p>
				</td>
				<td valign="top" style="width:49.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">$760.00</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:97.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 5.8pt 0pt 0pt;">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;">
						<font style="display:inline;font-size:6pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:54.85pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:47.15pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:55.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:61.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:57.95pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:53.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:57.65pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:49.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:115%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 12.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;margin:0pt;">
				<font style="margin:0pt;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size:6pt;;"> (1)</font>
			</p>
		</td><td style="width:6pt;"><p style="width:6pt;width:6pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;margin:0pt;">
			<font style="display:inline;font-size:6pt;color:#000000;">Includes the Early Tender Payment.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 12.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;margin:0pt;">
				<font style="margin:0pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size:6pt;;"> (2)</font>
			</p>
		</td><td style="width:6pt;"><p style="width:6pt;width:6pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;margin:0pt;">
			<font style="display:inline;font-size:6pt;color:#000000;">As of the date hereof.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 12.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;margin:0pt;">
				<font style="margin:0pt;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size:6pt;;"> (3)</font>
			</p>
		</td><td style="width:6pt;"><p style="width:6pt;width:6pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 6pt;margin:0pt;">
			<font style="display:inline;font-size:6pt;color:#000000;">The coupon on the 3.800% Senior Notes due 2022 is expected to increase to 5.550% on October 15, 2016.</font></p></td></tr></table></div>
		<p style="margin:0pt;text-indent: -3pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 7pt;">
			<font style="display:inline;font-size:7pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent: -3pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">The Tender Offers will expire at 11:59 p.m., New York City time, on August 1, 2016, unless extended or earlier terminated by Transocean Inc. (the &#x201C;Expiration Date&#x201D;). No tenders submitted after the Expiration Date will be valid. Subject to the terms and conditions of the Tender Offers, the consideration for each U.S. $1,000 principal amount of Notes validly tendered (and not validly withdrawn) and accepted for purchase pursuant to the Tender Offers will be the tender offer consideration for such series of Notes set forth in the table above (with respect to each series of Notes, the &#x201C;Tender Offer Consideration&#x201D;). Holders of Notes that are validly tendered (and not validly withdrawn) at or prior to 5:00 p.m., New York City time, on July 18, 2016 (such date and time, as it may be extended, the &#x201C;Early Tender Date&#x201D;) and accepted for purchase pursuant to the Tender Offers will receive the applicable Total Consideration for such series, which includes the early tender premium for such series of Notes set forth in the table above (with respect to each series of Notes, the &#x201C;Early Tender Premium&#x201D;). Holders of Notes tendering their Notes after the Early Tender Date will only be eligible to receive the Tender Offer Consideration, which is the Total Consideration less the Early Tender Premium. </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">All Notes validly tendered and accepted for purchase pursuant to the Tender Offers will receive the applicable consideration set forth in the table above, plus accrued and unpaid interest on such Notes from the last interest </font><font style="display:inline;font-size:12pt;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;">
		<p><font size="1"> </font></p></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"><p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;font-size:12pt;">payment date with respect to those Notes to, but not including, the applicable Settlement Date (as such term is defined in the Offer to Purchase) (&#x201C;Accrued Interest&#x201D;). </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Tendered Notes may be withdrawn from the Tender Offers at or prior to 5:00 p.m., New York City time, on July 18, 2016, unless extended by Transocean Inc. (such date and time, as it may be extended, the &#x201C;Withdrawal Deadline&#x201D;). Holders of Notes who tender their Notes after the Withdrawal Date, but prior to the Expiration Date, may not withdraw their tendered Notes. </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Transocean Inc. reserves the right, but is under no obligation, subject to the satisfaction or waiver of the conditions to the Tender Offers, to accept for purchase any Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date, at any point following the Early Settlement Date, subject to the Acceptance Priority Levels, the Aggregate Maximum Tender Amount and the Tender Cap. The Early Settlement Date is expected to be within three business days following the applicable Early Tender Date, or as promptly as practicable thereafter, subject to all conditions to the Tender Offers having been either satisfied or waived by Transocean Inc. On the Early Settlement Date, Transocean Inc. will accept Notes validly tendered at or prior to the Early Tender Date, subject to the Aggregate Maximum Tender Amount, the Tender Cap, the Acceptance Priority Levels and proration, each as described in the Offer to Purchase. Assuming that the conditions to the Offers are satisfied and waived, such Early Settlement Date may be as early as one business day following the Early Tender Date. Transocean Inc. will purchase any remaining Notes that have been validly tendered and not validly withdrawn at or prior to the Expiration Date and that Transocean Inc. chooses to accept for purchase promptly following the Expiration Date, subject to all conditions to the Tender Offers having been either satisfied or waived by Transocean Inc. The Final Settlement Date is expected to occur within three business days following the Expiration Date or as promptly as practicable thereafter.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Subject to the Aggregate Maximum Tender Amount, the Tender Cap and proration, the Notes accepted on any Settlement Date will be accepted in accordance with their Acceptance Priority Levels set forth in the table above, with 1 being the highest Acceptance Priority Level and 3 being the lowest Acceptance Priority Level. In addition, no more than U.S. $200,000,000 aggregate principal amount of the 2022 Notes will be purchased in the Tender Offers (as may be increased by Transocean Inc., the &#x201C;Tender Cap&#x201D;). All Notes tendered at or before the Early Tender Date will be accepted for purchase in priority to other Notes tendered after the Early Tender Date, even if such Notes tendered after the Early Tender Date have a higher Acceptance Priority Level than Notes tendered prior to the Early Tender Date. </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Acceptance for tenders of any Notes may be subject to proration if the aggregate principal amount for any series of Notes validly tendered and not validly withdrawn would cause the Aggregate Maximum Tender Amount to be exceeded. Acceptance for tenders of the Notes may be subject to proration if the aggregate principal amount of the Notes validly tendered and not validly withdrawn is greater than the Tender Cap. Furthermore, if the Tender Offers are fully subscribed as of the Early Tender Date, holders who validly tender Notes after the Early Tender Date will not have any of their Notes accepted for purchase.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">The consummation of the Tender Offers is not conditioned upon any minimum amount of Notes being tendered. However, the Tender Offers are subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Offer to Purchase, including among others, Transocean having raised net proceeds through one or more issuances of debt in the public or private capital markets on terms reasonably satisfactory to Transocean, sufficient to purchase all Notes validly tendered (and not validly withdrawn) and accepted for purchase by Transocean Inc. in the Tender Offers and to pay Accrued Interest and all fees and expenses in connection with the Tender Offers (the &#x201C;Financing Condition&#x201D;).</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;">
		<p><font size="1"> </font></p></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"><p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;font-size:12pt;">Goldman, Sachs &amp; Co. and Morgan Stanley &amp; Co. LLC are the dealer managers in the Tender Offers. D.F. King &amp; Co., Inc. has been retained to serve as both the depositary and the information agent for the Tender Offers. Questions regarding the Tender Offers should be directed to Goldman, Sachs &amp; Co. at (toll-free) (800) 828-3182 or (collect) (212) 902-6941, Morgan Stanley &amp; Co. LLC at (toll-free) (800) 624-1808 or (collect) (212) 761-1057. Requests for copies of the Offer to Purchase and other related materials should be directed to D.F. King &amp; Co., Inc. at (email) transocean@dfking.com, (toll-free) (800) 622-1649 or (collect) (212) 269-5550.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">None of Transocean Ltd., Transocean Inc., their respective boards of directors, the dealer managers, the depositary or the information agent, the trustees with respect to the Notes or any of Transocean Inc.&#x2019;s or their respective affiliates, makes any recommendation as to whether holders of the Notes should tender any Notes in response to the Tender Offers. The Tender Offers are made only by the Offer to Purchase. The Tender Offers are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the Tender Offers are required to be made by a licensed broker or dealer, the Tender Offers will be deemed to be made on behalf of Transocean Inc. by the dealer managers, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction</font><font style="display:inline;font-size:12pt;">.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">About Transocean</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Transocean owns or has partial ownership interests in, and operates a fleet of, 60 mobile offshore drilling units consisting of 29 ultra-deepwater floaters, seven harsh-environment floaters, four deepwater floaters, 10 midwater floaters, and 10 high-specification jackups. In addition, the company has five ultra-deepwater drillships and five high-specification jackups under construction.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">Forward-Looking Statements</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as &#x201C;forward-looking statements&#x201D;). Forward- looking statements include: statements regarding the terms and timing for completion of the Tender Offers, including the acceptance for purchase of any Notes validly tendered and the expected Early Tender Date, Expiration Date and Settlement Dates thereof; the potential increase to the Aggregate Maximum Tender Amount; the potential increase to the Tender Cap; and the satisfaction or waiver of certain conditions of the Tender Offers, including the Financing Condition.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Transocean Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, inadequate investor response on adequate terms to the issuance of debt intended to satisfy the Financing Condition, conditions in financial markets, investor response to Transocean Inc.&#x2019;s Tender Offers, and other risk factors as detailed from time to time in Transocean Ltd.&#x2019;s reports filed with the U.S. Securities and Exchange Commission. </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;"></font></p></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;">
		<p><font size="1"> </font></p></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"></div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;"><p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;font-size:12pt;">Readers are cautioned against unduly relying on forward-looking statements. Forward-looking statements are made as of the date of the relevant document and, except as required by law, Transocean undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise. </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">Analyst Contacts:</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Bradley Alexander</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">+1 713-232-7515</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Diane Vento</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">+1 713-232-8015</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;">Media </font><font style="display:inline;font-weight:bold;font-size:12pt;">Contact</font><font style="display:inline;font-weight:bold;font-size:12pt;">:</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Pam Easton</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">+1 713-232-7647</font>
		</p>

</div><div style="margin-left:4.41176470588235%;margin-right:7.84313725490196%;">

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
