SDLPF - Diamond Offshore Drilling - No Deal With Creditors Ahead Of Sunday's Bankruptcy Filing
Note:
I have previously covered Diamond Offshore Drilling (DO), so investors should view this as an update to my earlier articles on the company.
Not even two weeks ago, leading offshore driller Diamond Offshore Drilling ("Diamond Offshore") shocked investors with its decision to not make the semiannual interest payment under its 5.7% 2039 notes. In addition, the company disclosed having retained restructuring advisors.
Photo: Semi-Submersible Rig "Ocean GreatWhite" - Source: West Highland Free Press
Contrary to my expectations, the company decided to file for bankruptcy without having negotiated a comprehensive restructuring support