Seadrill Announces Pricing of Upsized Private Offering of $700 Million Senior Notes due 2034
Seadrill priced a $700 million private offering of 6.75% Senior Notes due 2034, upsizing from the initial $600 million target. The proceeds will primarily be used to redeem all outstanding 8.375% Senior Secured Second Lien Notes due 2030, effectively refinancing higher-cost debt with lower-cost, unsecured long-term debt.
Key figures
- Deal Value Usd
- 700000000
- Coupon rate
- 6.750%
- Maturity date
- July 15, 2034
- Original offering size
- 600000000
- Refinanced debt coupon
- 8.375%
- Refinanced debt maturity
- 2030
AI analysis
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