Seadrill: Cleansing announcement – restructuring process


Certain of the new secured noteholders (the “NSNs”) approached Seadrill Limited (the “Company”) to discuss the possibility of extinguishing the outstanding NSNs in exchange for certain secured collateral.

The attached slides (the “Cleansing Materials”) detail certain proposals and counter-proposals between the Company and the NSNs since August 30 2020.

Discussions between the Company and the NSNs remain ongoing and the description of the Cleansing Materials does not purport to be complete and is qualified in its entirety by the complete text of the attached Cleansing Materials.

The Company does not undertake any obligation to publicly update the information contained in the Cleansing Materials to reflect circumstances existing after the date of this release or to reflect the occurrence of future events, even in the event that any or all of the assumptions underlying the information are shown to be in error.

Source: Seadrill



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