Seadrill sells $700 million of 6.750% senior notes due 2034 to refinance 2030 notes
Seadrill Finance Limited, a wholly owned subsidiary of Seadrill Limited, issued $700 million of 6.750% senior notes due 2034 on June 30, 2026. The company used part of the proceeds to deposit funds that fully cover the redemption of its remaining 8.375% senior secured second lien notes due 2030, discharging that indenture, and it also reported an amended revolving credit facility that increased commitments from $225 million to $300 million, effective June 30, 2026 and undrawn to date.
Key points
- $700 million of 6.750% senior notes issued June 30, 2026, maturing July 15, 2034
- Proceeds deposited to redeem all outstanding 8.375% 2030 notes, of which about $575 million was outstanding as of March 31, 2026
- Revolving credit facility commitments increased from $225 million to $300 million, effective June 30, 2026, with no draws to date
- Notes callable on or after July 15, 2029 at 103.375% in 2029 and 101.688% in 2030
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 30, 2026.
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