Seadrill subsidiary lands rescue plan – hedge fund is critical

Nearly 80 percent of bondholders have agreed to a restructuring of Seadrill subsidiary Seadrill New Finance, along with its subsidiaries. US hedge fund is critical of the plan and recommends a rig sale.

Photo: Seadrill

A subsidiary of the Seadrill group has landed a financial restructuring plan, with 79 percent of its bondholders agreeing to the terms.

The plan concerns subsidiary Seadrill New Finance Limited, which is part of the John Frederiksen-controlled rig company Seadrill.

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