Seadrill addresses rumors of billion dollar loan from John Fredriksen

The price on Seadrill shares skyrocketed by 40 percent on Tuesday after Bloomberg reported from anonymous sources that the driller was granted a USD 1.2 billion loan from shipping magnate John Frederiksen. Seadrill now comments on the rumors in a press release.

Hard-pressed rig company Seadrill, controlled by Norwegian shipping magnate John Fredriksen, is now addressing rumors that Fredriksen is prepared to loan the company upwards of USD 1.2 billion.

"The company remains in discussions with its stakeholders regarding its refinancing and recapitalization plans and there are no material developments to disclose," writes the company in a press release as a direct response to the claims.

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