UPDATE: Fredriksen Said Willing to Lend as Much as $1.2B to Seadrill Ltd. (SDRL) - Bloomberg
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - October 4, 2016 7:30 AM EDT)
John Fredriksen, Seadrill's (NYSE: SDRL) Chairman and largest shareholder, is willing to lend it as much as $1.2 billion as part of a potential deal with banks and bondholders to restructure its debt, according to Bloomberg, citing two people familiar with the matter. The plan would imply postponement of all bank maturities to a least 2020, the report said.
Shares of Seadrill are poised to open higher by 35% following the report.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Dr Pepper Snapple Group (DPS) Said in Talks to Buy Bai Brands - Reuters
- Alphabet (GOOGL) call put ratio 2 calls to 1 put into Q3 and outlook as shares near record high
- Tesla (TSLA) call put ratio is 1 call to 1 put into Q3 and outlook
Create E-mail Alert Related CategoriesMomentum Movers, Rumors, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!