HAMILTON, Bermuda,
Oct. 13, 2020
/PRNewswire/ -- Certain of the new secured noteholders
(the "NSNs") approached Seadrill Limited (the "Company") to discuss
the possibility of extinguishing the outstanding NSNs in exchange
for certain secured collateral. The attached slides (the "Cleansing
Materials") detail certain proposals and counter-proposals between
the Company and the NSNs since August
30 2020. Discussions between the Company and the NSNs remain
ongoing and the description of the Cleansing Materials does not
purport to be complete and is qualified in its entirety by the
complete text of the attached Cleansing Materials. The Company does
not undertake any obligation to publicly update the information
contained in the Cleansing Materials to reflect circumstances
existing after the date of this release or to reflect the
occurrence of future events, even in the event that any or all of
the assumptions underlying the information are shown to be in
error.
FORWARD LOOKING STATEMENTS
This news release and the Cleansing Materials include forward
looking statements. Such statements are generally not historical in
nature, and specifically include statements about the Company's
plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring
efforts. These statements are made based upon management's current
plans, expectations, assumptions and beliefs concerning future
events impacting the Company and therefore involve a number of
risks, uncertainties and assumptions that could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this
news release. Consequently, no forward-looking statement can be
guaranteed. When considering these forward-looking statements, you
should keep in mind the risks described from time to time in the
Company's regulatory filings and periodical reporting. The Company
undertakes no obligation to update any forward looking statements
to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated
events. New factors emerge from time to time, and it is not
possible for the Company to predict all of these factors. Further,
the Company cannot assess the impact of each such factor on its
business or the extent to which any factor, or combination of
factors, may cause actual results to be materially different from
those contained in any forward looking statement.
This information is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
For further information, please contact:
Media questions should be directed to:
Iain
Cracknell
Director of
Communications
+44 (0)7765 221 812
Analyst questions should be directed to:
Hawthorn Advisors
seadrill@hawthornadvisors.com
+44 (0)203 7454960
CONTACT:
seadrill@hawthornadvisors.com
020 3745 4960
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/seadrill-limited/r/sdrl---cleansing-announcement---restructuring-process,c3214726
The following files are available for download:
https://mb.cision.com/Public/18925/3214726/aea05933848761ab.pdf
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Project Paratus - NSN
Cleansing Deck
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SOURCE Seadrill Limited