Seadrill Prices $700M Senior Notes Offering
Seadrill Limited announced the pricing of a $700 million offering of 6.750% Senior Notes due 2034.
A spokesperson said, “Seadrill Limited announced today that Seadrill Finance Limited, an exempted company limited by shares incorporated under the laws of Bermuda and a wholly owned subsidiary of Seadrill has priced its offering pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, of $700 million in aggregate principal amount of 6.750% Senior Notes due 2034.
“The Offering was upsized to $700 million from the original offering size of $600 million. The Notes mature on July 15, 2034 and will be issued at par. The Offering is expected to close on June 30, 2026, subject to customary closing conditions.
“Seadrill Finance intends to use a portion of the net proceeds from the Offering to redeem all of Seadrill Finance’s outstanding 8.375% Senior Secured Second Lien Notes due 2030 and satisfy and discharge the indenture governing the 2030 Notes. Seadrill Finance intends to use the remaining net proceeds from the Offering to pay the fees and expenses incurred in connection with the Offering and for general corporate purposes.”
