Seadrill subsidiary has forbearance agreement extended

A subsidiary of rig operator Seadrill, under bankruptcy protection, has secured an extended forbearance agreement regarding a bond loan until May 28. The reason is that Seadrill is currently negotiating a restructuring agreement for the company.

BY DAG HOLMSTAD, SHIPPINGWATCH

John Fredriksen-controlled rig company Seadrill, currently under bankruptcy protection, buys more time to negotiate a restructuring deal with the company's lenders and banks.

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