February 17, 2018 / 6:07 AM / in a year

Billionaire Fredriksen "close to" Seadrill debt restructuring deal

OSLO, Feb 17 (Reuters) - Seadrill’s main owner, billionaire John Fredriksen, is close to reaching a final agreement with banks, bondholders and South Korean shipyards on a financial restructuring plan, the drilling rig company said in a court filing.

Seadrill failed, however, to meet a self-imposed Friday deadline, announced last week, to file an amended plan and details of a final settlement to a bankruptcy court in Texas.

In its latest court filing, dated Friday, Seadrill said progress had been made during the last several days.

“The parties have narrowed the number of open points and are close to reaching a final agreement,” the company wrote. (Reporting by Terje Solsvik; Editing by Kim Coghill)

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