Seadrill Limited (SDRL): AOD Cash Utilisation
Hamilton, Bermuda, December 16, 2020 – The Board of Seadrill Limited (“Seadrill” or the "Company") (OSE: SDRL, OTCQX:SDRLF) has been informed that the lenders in the AOD facility (under which Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited are borrowers) have utilised $97.2 million of AOD's cash contained in restricted accounts secured against their facility to repay a corresponding amount of the $210 million debt outstanding as of today. This leaves $112.8 million of such debt outstanding going forward. The AOD facility maintains sufficient cash to