Seadrill Limited (SDRL) Announces Pricing of $500 Million Upsized 144A / Reg S Offering of 8.375% Senior Secured Second Lien Notes Due 2030

HAMILTON, Bermuda, July 13, 2023 /PRNewswire/ -- Seadrill Limited ("Seadrill" or the "Company") (NYSE:SDRL) (OSE:SDRL) and its wholly owned subsidiary, Seadrill Finance Limited ("Seadrill Finance"), announced today the pricing of their offering under Rule 144A and Regulation S (the "Offering") of the Securities Act of 1933, as amended (the "Securities Act"), of $500 million in aggregate principal amount of 8.375% Senior Secured Second Lien Notes due 2030 (the "Notes"). The Offering was upsized to $500 million in aggregate principal amount of Notes from the original offering size of $450 million in aggregate principal amount of Notes. The Notes mature on August 1, 2030, and will be issued at par. The Offering is expected to close on July 27, 2023, subject to customary conditions precedent and to the effectiveness of the New Credit Agreement (as defined below).