Seadrill issues $700M 6.750% Senior Notes due 2034, redeems 2030 notes

Seadrill Ltd

Issued $700M 6.750% Senior Notes due 2034; interest semi-annual from Jan 15, 2027.
Notes fully guaranteed by Seadrill and subsidiaries; redeemable at 103.375% in 2029, declining to par in 2031.
Proceeds used to redeem all outstanding 8.375% Senior Secured Second Lien Notes due 2030 (~$575M outstanding as of Mar 31, 2026).
Amended revolving credit facility: commitments increased from $225M to $300M, effective June 30, 2026; facility undrawn.
Indenture contains customary covenants restricting additional debt, liens, distributions, asset sales, affiliate transactions, and mergers.

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