The paying agent has advised that $599.2 million in aggregate principal amount at maturity of debentures were validly surrendered for repurchase and not withdrawn. Global Marine has accepted all these debentures for repurchase at a purchase price of $594.25 per $1,000 of principal amount at maturity, for an aggregate purchase price of approximately $356 million. After this purchase, $800,000 in aggregate principal amount at maturity of debentures remain outstanding.
GlobalSantaFe and Global Marine will file a final Amendment to their Tender Offer Statement on Schedule TO/A with the Securities and Exchange Commission to report the results of the offer to repurchase the Zero Coupon Convertible Debentures Due June 23, 2020.
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