Each one in plain English, with the numbers worked through for a shareholder.
30 June 2026debt financing▲ GoodMajor
On June 30, 2026 Seadrill's subsidiary Seadrill Finance issued $700 million of 6.750% Senior Notes due 2034, guaranteed by the company. Part of the proceeds was deposited to redeem all of the 8.375% Second Lien Notes due 2030 (about $575 million outstanding at March 31, 2026), which discharged that indenture. The revolving credit amendment announced June 16 also took effect, raising commitments to $300 million, and the facility has not been drawn. This resolves the redemption and the amendment's pending conditions.
On June 16, 2026 Seadrill agreed to amend its revolving credit facility (originally dated July 11, 2023): commitments rise from $225 million to $300 million and maturity extends from 2028 to 2031. It also removes some immaterial subsidiaries and stacked vessels as guarantors and collateral, changes commitment fees, and loosens certain covenants. The amendment was expected to take effect June 30, 2026, subject to conditions.
On March 4, 2025 Seadrill's audit committee dismissed PricewaterhouseCoopers LLP (UK) as auditor after the 2024 audit, and approved PricewaterhouseCoopers LLP (US) for 2025, subject to shareholder approval at the 2025 annual meeting. The filing links this to the company's move from foreign private issuer to U.S. domestic reporting status effective January 1, 2025, with the London office closed and offices consolidated in Houston. The UK auditor's reports for 2024 and 2023 were not adverse or qualified, and no disagreements were reported.
Seadrill filed an amended report solely to generate an EDGAR code for a filing to be made in furtherance of its planned, previously announced voluntary delisting of its common shares from the New York Stock Exchange. It carries no new financial information; it follows the June 2020 notice of removal from listing.
