Bankrupt Seadrill (SDRL +8.8%) is working towards a comprehensive deal with all its creditors that could be concluded this week, according to a court filing late Friday.
Discussions were trying to incorporate proposals made in two alternative plans by creditors Barclays Capital and an ad hoc group of bondholders, SDRL says in the filing.
SDRL has been working with creditors on a restructuring plan to bring in $1B-plus in fresh funding and allow it to maintain its fleet of rigs; unsecured bondholders would get a ~15% stake in the company but existing shareholders would be wiped out.
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