Seadrill has struck a deal with creditors to press ahead with its restructuring under Chapter 11 after backers agreed to inject additional capital.
John Fredriksen’s Seadrill has been facing opposition to its initial plan from bondholders with two competing proposals to restructure the company tabled.
Now, Seadrill says 70% of bondholders are on board with a revised restructuring scheme, which will see Fredriksen and Centrebridge provide fresh capital.
