|Bid||0.0000 x 1800|
|Ask||0.0000 x 1300|
|Day's Range||0.5020 - 0.5794|
|52 Week Range||0.1593 - 1.6400|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||-0.00|
|Earnings Date||Aug 20, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.50|
Seadrill New Finance Limited (OSE: SDRL) (OTCQX: SDRLF), a company incorporated in Bermuda in 2018 and issuer of the 12.0% senior secured notes due 2025 (the "Notes"), has determined not to make the semi-annual 4% cash interest payment due to the senior secured noteholders on 15 January 2021 in respect of their Notes issued pursuant to the terms of the notes indenture dated 2 July 2018. The payment-in-kind (PIK) interest payment is being made in the ordinary course.
Seadrill Limited ("Seadrill" or the "Company") (OSE: SDRL) (OTCQX: SDRLF) announces that it has entered into a forbearance agreement with certain creditors in respect of nine out of the group's twelve senior secured credit facility agreements.
The Board of Seadrill Limited ("Seadrill" or the "Company") (OSE: SDRL) (OTCQX: SDRLF) has been informed that the lenders in the AOD facility (under which Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited and Asia Offshore Rig 3 Limited are borrowers) have utilised $97.2 million of AOD's cash contained in restricted accounts secured against their facility to repay a corresponding amount of the $210 million debt outstanding as of today. This leaves $112.8 million of such debt outstanding going forward. The AOD facility maintains sufficient cash to support AOD's operations and this event will have no impact to continued operations.