Seadrill revolver of up to $225 million available at closing of new note offer

By Mary-Katherine Stinson

Lexington, Ky., July 27 – Seadrill Ltd.’s previously announced senior secured five-year revolving credit facility became effective and available at the closing of wholly owned subsidiary Seadrill Finance Ltd.’s new 8 3/8% senior secured second-lien notes due 2030, according to a 6-K filing with the Securities and Exchange Commission.

Seadrill entered into the new credit agreement on July 11.

The agreement allows borrowings up to $225 million with an accordion feature of up to $100 million.

Seadrill is a Hamilton, Bermuda-listed offshore drilling contractor.

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