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Seadrill lands comprehensive restructuring deal

John Fredriksen's strained drilling company Seadrill has settled a comprehensive restructuring agreement with a majority of its lenders, which among other things reduced the company's debt liabilities by almost USD 5 billion.

Photo: Seadrill

(Added August 20: Seadrill has not gain the full support for its restructuring, but only obtained support from a majority of creditors)

Seadrill has settled a deal with its creditors as part of a large-scale restructuring of the strained company, currently under Chapter 11.

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