Wednesday, February 01, 2017 3:15:52 AM
1. Extending bank maturities to mature in the period from 2021 to 2023, reducing fixed amortization and amending financial covenants;
2. Extending the maturity of unsecured claims to mature in the period from 2025 to 2028; and
3. Raising at least $1.0 billion in new capital.
The Company is targeting reaching a contract on a consensual, comprehensive restructuring before the maturity of the West Eminence facility on April 30, 2017. Assuming we achieve this target, we expect the implementation of a contract to occur during the second quarter of 2017. We are also actively preparing various contingency plans in the event we do not reach a consensual agreement.
Per Wullf, CEO and President of Seadrill Administration Ltd. comments: “These negotiations have proved to be more complex than we had originally anticipated. Nevertheless, key stakeholders have demonstrated a clear desire to be part of a solution and with the right structure and terms we believe there is noteworthycapital available to us. Seadrill is a great company with excellent people, assets and customers and we look forward to concluding a transaction that ensures Seadrill continues to be well positioned for the eventual recovery in the industry.”
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Recent SDRL News
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- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/10/2024 01:00:42 PM
- Seadrill Announces Completion of Delisting of Shares on Oslo Stock Exchange • Business Wire • 09/09/2024 11:37:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/08/2024 08:58:51 PM
- Seadrill Announces Second Quarter 2024 Results • Business Wire • 08/05/2024 09:00:00 PM
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- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/17/2024 08:18:49 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 06/14/2024 12:30:11 AM
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- Seadrill Announces Voluntary Delisting from Oslo Stock Exchange, Following Oslo Bors Approval • Business Wire • 06/07/2024 09:38:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/03/2024 08:11:23 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/20/2024 08:13:25 PM
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