EXHIBIT 25.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A
TRUSTEE PURSUANT TO SECTION 305(b)(2) [___]
Computershare Trust Company, National Association
(Exact name of trustee as specified in its charter)
National Banking Association | 04-3401714 |
(Jurisdiction of incorporation or organization if not a U.S. | (I.R.S. Employer Identification Number) |
250 Royall Street, Canton, MA | 02021 |
(Address of principal executive offices) | (Zip Code) |
Robert Major, Trust Officer
8742 Lucent Boulevard, Suite 225
Highlands Ranch, CO 80129
(781) 856-7020
(Name, address and telephone number of agent for services)
TRANSOCEAN LTD.
TRANSOCEAN INC.
(Exact name of each obligor as specified in its charter)
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Transocean Ltd. | Transocean Inc. |
Switzerland | Cayman Islands |
(State or Other Jurisdiction of Incorporation or Organization) | (State or Other Jurisdiction of Incorporation or Organization) |
1381 | 6719 |
(Primary Standard Industrial Classification Code Number) | (Primary Standard Industrial Classification Code Number) |
98-0599916 | 66-0582307 |
(I.R.S. Employer Identification No.) | (I.R.S. Employer Identification No.) |
Turmstrasse 30 Switzerland | 70 Harbour Drive |
0.5% Exchangeable Senior Bonds due 2023
Guarantee of 0.5% Exchangeable Senior Bonds due 2023
(Title of the indenture securities)
Item 1. General Information. Furnish the following information as to the trustee:
(a) Name and address of each examining or supervising authority to which it is subject.
Comptroller of the Currency
340 Madison Avenue, 4th Floor
New York, NY 10017-2613
(b) Whether it is authorized to exercise corporate trust powers.
The trustee is authorized to exercise corporate trust powers.
Item 2. Affiliations with the obligor. If the obligor is an affiliate of the trustee, describe such affiliation.
None.
Item 16. List of exhibits. List below all exhibits filed as a part of this statement of eligibility.
1. A copy of the articles of association of the trustee. (See Exhibit 1 to Form T-1 filed with Registration Statement No. 333-179383)
2. A copy of the certificate of authority of the trustee to commence business. (See Exhibit 2 to Form T-1 filed with Registration Statement No. 333-179383)
3. See exhibits 1 and 2.
4. A copy of the existing bylaws of the trustee, as now in effect. (See Exhibit 4 to Form T-1 filed with Registration Statement No. 333-179383)
6. The consent of the Trustee required by Section 321(b) of the Act.
7. A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 the trustee, Computershare Trust Company, National Association, a national banking association, organized and existing under the laws of the United States, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Highlands Ranch, and State of Colorado, on the 1st day of February, 2018.
Computershare Trust Company, National Association
By: | /s/Robert Major |
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| Robert Major |
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| Vice President |
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EXHIBIT 6
CONSENT OF THE TRUSTEE
Pursuant to the requirements of Section 321 (b) of the Trust Indenture Act of 1939, and in connection with the proposed issue of Transocean Inc.’s and Transocean Ltd.’s debt securities, Computershare Trust Company, National Association hereby consents that reports of examinations by federal, state, territorial or district authorities may be furnished by such authorities to the Securities and Exchange Commission upon request therefore.
| COMPUTERSHARE TRUST COMPANY, | |
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| By: | /s/ Robert Major |
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| Robert Major |
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| Vice President |
Columbus, Ohio
February 1, 2018
EXHIBIT7 Consolidated Report of Condition of COMPUTERSHARE TRUST COMPANY, NATIONAL ASSOCIATION 250 Royall Street, Canton, MA 02021 t the close of business December 31, 2016. ASSETS Dollar Amounts In Thousands Cash and ba lances due from deposit01y institutions: Non.iilterest-bearing balances and currency and coin ............................................................. Interest-bearing balances ..................................... Securities: Held-to-maturity securities .................................. Available-for-sale securities ................................ Federal funds sold and securities purchased under agreements to resell: Federal funds sold in domestic offices................. Securities purchased under agreements to resell............... .............. . ... ........... . Loans and lease financing receivables: Loans and leases held for sale.. .............. Loans and leases, net of unearned income.......................................................... LESS: Allowance for loan and lease losses........ ............................................. Loans and leases, net of unearned income and allowance....................................... Trading assets.......................................................... ·Premises and fixed assets (including capitalized leases) .........................:...................... Other real estate owned........................................... Investments in unconsolidated subsidiaries and associated companies .................................... Direct and indirect investments in real estate ventures Intangible assets: Goodwill .............................................................. Other intangible assets ......................................... Other assets ............................................................. Total assets.............................................................. -0--0--0-21,794 -0--0--0--0--0--Oc -0--0--0--0--0-7,756 -0-773 30,323 138400915.1 |
LIABILITIES Deposits: In domestic offices............................................... Noninterest-bearing.............................................. lnterest-bearing .................................................... Federal funds purchased and s urities sold under agreements to repurchase: Federal funds purchased in domestic offices....... . .............. ............... ..... ......... Securities sold under agJ·eements to repurchase .......................................................... Trading liabil ities.................................................... Other borrowed money: (includes mortgage indebtedness and obl igat ions under capitalized leases)....... Not applicable Not applicable Subordinated notes and debentures......................... Other liabilities........................................................ Total liabilities ........................................................ -0--0--0--0--0--0--0--0-3,871 3,871 EQUITY CAPITAL Perpetual preferred stock and rdated surplus......................................... .. Common stock ........................................................ Surplus (exclude all surplus related to preferred stock) .................................................... Retained earnings.................................................... Accumu l ated other comprehensive income. ........ Other equity capital components..................... Total bank cql1ity capital ......................................... Noncontrollil1g (minority) interests in consolidated subsidiaries ................... .. ...... Total equity capital ................................................. Total liabilities and equity capital........................... 0 500 18,894 7,058 -0--0-26,452 -0-26,452 30,323 I, Robert G. Marshall, Assistant Controller of the above named bank do hereby declare · that this Report of Condition is true and correct to the best of my knowledge and belief. t) .-( ,_. I Robert G. Marshall Assistant Controller 2 138400915.1 |