Seadrill New Finance Limited (the “Issuer”) – Update on Restructuring Discussions and SeaMex Ltd Joint Venture
Hamilton, Bermuda | June 11, 2021 - Seadrill Limited (“Seadrill” or the “Company”) (OSE: SDRL, OTCPK:SDRLF) and the Issuer announce that restructuring discussions have continued with certain holders (the “Noteholders”) of the Issuer’s 12.0% senior secured notes due 2025 (the “Notes”) and good progress continues to be made. The restructuring discussions include SeaMex Ltd (“SeaMex”), a 50/50 joint venture which Seadrill established with an investment fund controlled by Fintech Holdings Limited (“Fintech”) in 2014. The Issuer has agreed in principle the key terms of a restructuring