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No. of Recommendations: 0
Transocean's stock is under immense pressure for a number of reasons. NYSE recently issued a compliance warning which is typical for stocks that trade under $1 for a certain period of time. More here:
https://www.deepwater.com/news/detail?ID=24766
The debt is under pressure too which is understandable also. As to bonds... I recently found out that several issues incl. CUSIP 893830AY5 (6.5% of Nov 15, 2020!) have a pending tender offer. More here:
https://www.deepwater.com/news/detail?ID=24736

Kind of surprising as the maturity date is just a month away. But I suppose if lots of holders jump on this "deal" the company will save a good amount so perhaps this is one of those it's-worth-a-try situations?

My position is small and I intend to hold my 20's until the end! Hoping I'll just get par value plus interest without any surprises.
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