Seadrill and equity fund said to pursue debt accord

John Fredriksen's Seadrill is in talks with bondholders about a possible debt-restructuring plan just days before a potential bankruptcy filing, say sources close to the process.

Photo: Photo: Seadrill

Seadrill Ltd. Chairman John Fredriksen and Centerbridge Partners are in talks with the offshore driller's bondholders about a debt-restructuring plan, days before a potential bankruptcy-court filing, according to people familiar with the situation.

Under the proposal, the billionaire and hedge fund will get sizable stakes in a restructured Seadrill in return for helping to fund a new loan totaling about USD 1 billion, said the people, who asked not to be identified because the talks are private.

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