Seadrill limited (sdrl) announces closing of $500 million senior secured second lien notes and concurrent availability of new revolving credit facility

Hamilton, bermuda , july 27, 2023 /prnewswire/ -- on july 27, 2023, seadrill limited (the "company") (nyse & ose: sdrl) and its wholly owned subsidiary, seadrill finance limited ("seadrill finance" or the "issuer"), announced that seadrill finance has issued $500 million in aggregate principal amount of 8.375% senior secured second lien notes due 2030 (the "notes") in an offering (the "offering") conducted pursuant to rule 144a and regulation s under the securities act of 1933, as amended (the "securities act"). the net proceeds from the offering will be used to: (i) prepay in full the outstanding amounts under its existing secured debt facilities and (ii) pay fees associated with exiting such secured debt facilities.
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