secwatch.observer — SEC 8-K summary
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Issuer:     Seadrill Ltd (SDRL)
CIK:        0001737706
Form:       8-K
Filed at:   2026-06-30T20:32:52+00:00
Accession:  0001193125-26-290671
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1737706/000119312526290671/0001193125-26-290671-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1737706/000119312526290671/d106615d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-290671

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