Seadrill New Finance Limited Announces Forbearance Agreement
Hamilton, Bermuda, February 11, 2021– Seadrill Limited (“Seadrill” or the “Company”) (OSE:SDRL, OTCQX:SDRLF) announces that Seadrill New Finance Limited (the “Issuer”), a subsidiary of the Company incorporated in Bermuda in 2018 and issuer of the 12.0% senior secured notes due 2025 (the “Notes”), has entered into a forbearance agreement with certain holders of the Notes. Pursuant to the forbearance agreement, the consenting creditors have agreed not to exercise any enforcement rights with respect to the Issuer and any subsidiary of the Issuer which is an obligor under the Notes to, or