Cliffs Drilling Company to Redeem 10.25% Senior Notes.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--April 19, 2001 Transocean Sedco Forex Forex See: Foreign exchange Inc. (NYSE NYSE See: New York Stock Exchange :RIG) today announced that its wholly owned, indirect subsidiary Cliffs Drilling Company has called its 10.25% Series B and D Senior Notes due 2003. The notes, which have an aggregate principal amount of approximately $200 million, will be redeemed on May 18, 2001 at a redemption price of $1,025.00 per $1,000 principal amount plus accrued and unpaid interest. Transocean Sedco Forex Inc. is the world's largest offshore drilling contractor with more than 170 full or partially owned, chartered and managed mobile offshore drilling units, inland barges and other assets utilized in the support of offshore drilling activities worldwide. The company's mobile offshore drilling fleet is considered one of the most modern and versatile fleets in the world with 50 semisubmersible sem·i·sub·mers·i·ble n. A seagoing, self-propelled barge that rides at anchor, stands on partially submerged vertical legs on submerged pontoons, and serves as living quarters and a base of operations in offshore drilling. drilling rigs (including three under construction), 16 drillships and 55 jackup drilling rigs. Transocean Sedco Forex Inc. specializes in technically demanding segments of the offshore drilling business, including industry-leading positions in deepwater and harsh environment drilling services. With a current equity market capitalization Equity Market Capitalization A measure of the total market value of an equity market. The measure is calculated by taking the market capitalization of all companies in the equity market and adding them together to arrive at the capitalization for the market as a whole. of approximately $14.8 billion, the company's ordinary shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "RIG." |
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