Transocean to offer $300 million of five-year bonds

Offshore drilling services provider Transocean Ltd.
RIG,
+0.85%
said Tuesday it’s planning a private offering of $300 million of five-year bonds. Proceeds will be used to partially finance the construction, acquisition and improvement or upgrade of the Deepwater Aquila and to find an initial debt ser4vice reserve. The stock has gained 84% in the year to date, while the S&P 500
SPX,
-1.04%
has gained 13%.