Loan & DebtJun 18, 2026, 04:17 PM
Seadrill Increases Credit Facility to $300M, Extends Maturity to 2031
AI Summary
Seadrill Limited has entered into Amendment No. 2 to its Senior Secured Revolving Credit Agreement. This amendment will increase the revolving borrowing commitments from $225 million to $300 million and extend the maturity date from 2028 to 2031. It also involves the removal of certain subsidiaries and vessels as guarantors and collateral, and modifies commitment fees and restrictive covenants to provide greater operational and financial flexibility. The amendment is expected to become effective on June 30, 2026.
Key Highlights
- Seadrill Ltd amended its Senior Secured Revolving Credit Agreement.
- The amendment increases revolving borrowing commitments from $225 million to $300 million.
- The maturity date of the revolving credit facility has been extended from 2028 to 2031.
- Certain immaterial subsidiaries and stacked vessels have been removed as guarantors and collateral.
- Commitment fees and restrictive covenants have been modified to enhance operational and financial flexibility.
- The amendment is expected to become effective on June 30, 2026, subject to satisfaction of conditions.
Price Impact
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