EnergyWatch

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted makes group changes again

The Danish power company shakes up its organization once again, now parting ways with offshore wind chief of many years, while also moving other profiles up the corporate ladder.

Ørsted declines Taiwan tender bid

Quite atypically, the Danish market leader publicly rejects to bid in Taiwan’s solicitation for 3GW offshore wind due to poor framework conditions. The green transformation will wilt if developers build uneconomic projects, says CEO.

Last platform now in position at Tyra site

After completing the voyage from Batam, Indonesia, the process module is now in position in the North Sea. Only one piece is now missing from the reconstruction project at the Tyra site.

Further reading

Related articles

Latest News

See all jobs