Seadrill New Finance Limited (the “Issuer”) Announces Confirmation of Pre-Packaged Financial Restructuring
Hamilton, Bermuda | January 12, 2022 – Seadrill Limited (“Seadrill” or the “Company”) (OSE: SDRL, OTCPK: SDRLF) and the Issuer today announce that the Issuer has successfully received approval from the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) for its “one-day” chapter 11 restructuring. The Court confirmed the Issuer’s chapter 11 plan of reorganization (the “Plan”), which received nearly unanimous support from existing stakeholders. The Plan provides the Issuer with financial and strategic flexibility and stability by amending and extending the Issuer’s