SDLP - Seadrill Limited Restructuring Update
London, United Kingdom, September 12, 2017 - Seadrill Partners LLC ("Seadrill Partners" or the "Company") announces today that the Company's largest shareholder, Seadrill Limited ("Seadrill"), has entered into a restructuring agreement with secured lenders, bondholders and a consortium of investors. The agreement defers the maturity of secured bank debt by five years with no amortization payments until 2020, converts bonds to equity and delivers new capital to Seadrill. To implement the restructuring agreement, Seadrill and certain of its subsidiaries have filed prearranged chapter 11