Seadrill Announces Offering of $600 Million Senior Notes

Seadrill Limited, through its subsidiary Seadrill Finance Limited, announced its intention to offer $600 million in aggregate principal amount of senior unsecured notes due 2034. The net proceeds from this offering, along with existing cash, will be used to redeem all outstanding 8.375% Senior Secured Second Lien Notes due 2030. The company has issued a conditional notice to redeem these notes, with the redemption contingent upon the successful completion of the financing transaction. Approximately $575 million of the 2030 Notes were outstanding as of March 31, 2026. The offering is being conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. Seadrill also provided an update on its fleet, financial performance, and business strategies, highlighting a strong contract backlog and a focus on high-specification, deepwater drilling assets. The company is also in discussions to amend its Senior Secured Revolving Credit Agreement to increase commitments and extend the maturity date.