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SDRL – Seadrill New Finance Limited Announces Extension of Forbearance Agreement


SDRL – Seadrill New Finance Limited Announces Extension of Forbearance Agreement
Seadrill Limited announces that Seadrill New Finance Limited (the “Issuer”), a subsidiary of the Company, has agreed to extend the existing forbearance agreement announced on 19 April 2021, with respect to the 12.0% senior secured notes due 2025 (the “Notes”) with certain holders of the Notes (the “Note Holders”).
Pursuant to the forbearance agreement, as extended, the consenting Note Holders have agreed not to exercise any enforcement rights with respect to the Issuer and any subsidiary of the Issuer which is an obligor under the Notes to, or otherwise take actions in respect of, certain events of default that may arise under the Notes as a result of, amongst other things, the Issuer not making the semi-annual 4% cash interest payment due to the senior secured noteholders on 15 January 2021 in respect of their Notes and the filing of Chapter 11 cases in the Southern District of ....

United States , Seadrill New Finance Limited The Issuer , Seadrill Limited , Seadrill New Finance Limited , Note Holders , Southern District , ஒன்றுபட்டது மாநிலங்களில் , குறிப்பு வைத்திருப்பவர்கள் , தெற்கு மாவட்டம் ,

SDRL - Seadrill New Finance Limited Announces Extension of Forbearance Agreement


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HAMILTON, Bermuda, May 17, 2021 /PRNewswire/  Seadrill Limited ( Seadrill or the Company ) (OSE:SDRL,OTCQX:SDRLF) announces that Seadrill New Finance Limited (the Issuer ), a subsidiary of the Company, has agreed to extend the existing forbearance agreement announced on 19 April 2021, with respect to the 12.0% senior secured notes due 2025 (the Notes ) with certain holders of the Notes (the Note Holders ).
Pursuant to the forbearance agreement, as extended, the consenting Note Holders have agreed not to exercise any enforcement rights with respect to the Issuer and any subsidiary of the Issuer which is an obligor under the Notes to, or otherwise take actions in respect of, certain events of default that may arise under the Notes as a result of, amongst other things, the Issuer not making the semi-annual 4% cash interest payment due to the senior secured noteholders on 15 January 2021 in respect of their Notes and the filing ....

United States , Seadrill Limited , Seadrill New Finance Limited The Issuer , Seadrill New Finance Limited , Note Holders , Southern District , Norwegian Securities Trading , ஒன்றுபட்டது மாநிலங்களில் , குறிப்பு வைத்திருப்பவர்கள் , தெற்கு மாவட்டம் , நோர்வே பத்திரங்கள் வர்த்தக ,