Seadrill (SDRL), through its subsidiary Seadrill Finance, intends to offer $600 million of senior unsecured notes due 2034 in a private offering, the company said Monday.
The proceeds, together with cash on hand, will be used to redeem all outstanding 8.375% senior secured second lien notes due 2030 and to satisfy and discharge the related indenture, the company said.
Seadrill shares were down about 2% in Monday trading.
Price: $42.49, Change: $-1.80, Percent Change: -4.05%