Short answer
Seadrill Ltd (SDRL) filed an 8-K current report with the SEC on June 30, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation). $700 million raised through 6.750% senior notes due July 15, 2034.
Seadrill Ltd 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $700 million raised through 6.750% senior notes due July 15, 2034
- Semiannual interest payments begin January 15, 2027, increasing Seadrill’s fixed debt-service obligations
- Fully and unconditionally guaranteed by Seadrill and designated subsidiaries, strengthening creditor protection
- Callable at 103.375% in 2029, 101.688% in 2030, and 100% from 2031 onward
- Debt covenants restrict additional borrowing, liens, distributions, asset sales, and mergers; change-of-control repurchase price 101%
Item 2.03 · Creation of a Direct Financial Obligation
- 2030 Notes fully defeased using Offering proceeds, eliminating approximately $575 million outstanding principal
- Redemption included 103% premium on 10% tranche, 100% plus make-whole premium on remainder
- $300 million revolving credit capacity, increased from $225 million, became available June 30, 2026
- Revolver remains undrawn, preserving liquidity for future corporate needs
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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