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MisterEC

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Re: benfrankledger post# 1976

Wednesday, 11/08/2017 10:45:24 AM

Wednesday, November 08, 2017 10:45:24 AM

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Seadrill +67% so far this week as bondholders show interest

Seadrill (SDRL +6.8%) surges for a third straight session to bring its gain close to 70% for the week, following recent news that two groups have shown interest in potentially making offers that would rival a debt-cutting plan put forward by its major shareholder.

A proposal from a group holding ~25% of SDRL’s bonds and another plan from a bond investor have surfaced while the company has been soliciting restructuring offers.

Seeking Alpha contributor Vladimir Zernov believes SDRL's recent move is "purely technical" sparked by bondholders' activity and higher oil prices after a period of flat trading, but says nothing has changed in the company's fundamentals.

you are rolling the dice, and the baby needs a new pair of shoes!
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