Transocean (RIG) Falls on Planned $39.7-Million Debt-to-Equity Swap

We recently published 10 Stocks Collapse Overnight. Transocean Ltd. (NYSE:RIG) is one of the best-performing stocks on Monday.

Transocean dropped its share prices by 6.13 percent on Monday to close at $2.91 apiece as investors soured on the company’s planned debt-to-equity swap program that could result in a potential dilution of existing shares.

In a regulatory filing on Monday, Transocean Ltd. (NYSE:RIG) said that its wholly owned subsidiary, Transocean International Ltd., entered into separate, individual agreements with certain shareholders for its 4-percent senior guaranteed exchangeable bonds due this year.

Under the agreement, the bondholders agreed to swap $39.7 million of bonds for shares of Transocean Ltd. (NYSE:RIG) at a price yet to be determined. The price would be based on the daily volume-weighted average price over a five-day trading period, including August 11.

In recent news, Transocean Ltd. (NYSE:RIG) widened its net loss in the second quarter of the year by 663 percent to $938 million from only $123 million in the same period last year.

Revenues, on the other hand, increased by 14.7 percent to $988 million from $861 million previously.

As of July 2025, the company has a total backlog of $7.2 billion.

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