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.

Read the whole article

Get 14 days free access.

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

Further reading

Related articles

Latest News

See all jobs