A group of Seadrill bondholders has come forward with an alternative restructuring proposal for the company which filed for Chapter 11 this summer, Reuters reports.
Chairman John Fredriksen has proposed a $1.06bn equity injection alongside investment partners but has faced some resistance from a selection of bondholders.
The alternative put forward by an unofficial committee of bondholders is "on a par" with Fredriksen’s proposal, but with improved terms for the bondholders, Reuters quotes one source to have said.
