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SDRL - Seadrill Partners Buys Time But Is Still Set For Restructuring In 2021
Seadrill Limited
Seadrill Partners (SDLPF) has recently reported that it elected not to pay a $49 million interest payment for Term Loan B holders and reached an agreement that removed the potential for the event of default for the non-payment of this interest installment.
In turn, Term Loan B lenders will get a super senior loan maturing in February 2021 (the same date as the maturity of Term Loan B). The maximum amount of the super senior loan is $69 million, in case all Term Loan B holders participate (currently, Seadrill Partners reached an agreement