John Fredricksen’s Seadrill has privately negotiated another exchange agreement with certain holders of its outstanding 5-5/8% senior notes due 2017.
The Oslo-listed company will issue 7.5m new common shares, each with a par value of $2.00, in exchange for $50m principal amount of the 2017 notes.
Settlement is expected on June 13, Seadrill said, after which the company will have a total of 508,444,280 issued and outstanding shares of its common stock.
The company completed a similar deal, worth $55m, in late May.
