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5 months ago
BRIEF-North Atlantic Drilling says Seadrill reached agreement to extend milestone to implement restructuring plan from 30 April to 31 July 2017
April 4, 2017 / 5:35 AM / 5 months ago

BRIEF-North Atlantic Drilling says Seadrill reached agreement to extend milestone to implement restructuring plan from 30 April to 31 July 2017

April 4 (Reuters) - North Atlantic Drilling Ltd:

* Amendments to secured credit facilities

* North Atlantic Drilling - majority owned unit of Seadrill Ltd and its banking group to extend series of key dates as part of Seadrill's restructuring efforts

* North Atlantic Drilling Ltd - co received lender consent to extend $2.0 billion NADL credit facility maturing on 30 June 2017 until 14 September 2017

* North Atlantic Drilling - Seadrill Limited has reached an agreement to extend milestone to implement a restructuring plan from 30 April to 31 July 2017

* North Atlantic Drilling - expects implementation of restructuring plan will likely involve schemes of arrangement or Chapter 11 proceedings Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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