Seadrill Limited filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On June 16, 2026, Seadrill Limited (the “Company”) entered into Amendment No. 2 to Senior Secured Revolving Credit Agreement, dated as of June 16, 2026 (the “Amendment”), by and among Seadrill Finance Limited, as borrower, the Company, the lenders party thereto, the issuing banks party thereto, J.P. Morgan SE, as the predecessor or retiring administrative agent, JPMorgan Chase Bank, N.A., as the successor administrative agent, and GLAS Trust Company LLC, as common security agent. The Amendment provides that, upon the satisfaction or waiver of the conditions to effectiveness set forth therein, it will amend that certain Senior Secured Revolving Credit Agreement, dated as of July 11, 2023 (as amended, the “Credit Agreement”), relating to the Company’s revolving credit facility. The Amendment will, among other things, (i) increase the commitments for revolving borrowings from $225 million to $300 million, (ii) extend the stated maturity date from 2028 to 2031, (iii) remove certain immaterial subsidiaries and stacked vessels as guarantors and collateral, respectively, under the Credit Agreement, in accordance with the terms of the Amendment, (iv) modify the commitment fees payable under the Credit Agreement and (v) amend certain restrictive covenants to provide more operational and financial flexibility for the Company and its subsidiaries. The Amendment is expected to become effective on June 30, 2026, subject to the satisfaction or waiver of the conditions to effectiveness set forth therein.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit |
Description | |
| 10.1* | Amendment No. 2 to Senior Secured Revolving Credit Agreement, dated as of June 16, 2026, by and among Seadrill Finance Limited, as borrower, Seadrill Limited, the lenders party thereto, the issuing banks party thereto, J.P. Morgan SE, as the predecessor or retiring administrative agent, JPMorgan Chase Bank, N.A., as the successor administrative agent, and GLAS Trust Company LLC, as common security agent. | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |
| * | Certain schedules and similar attachments to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted schedule or attachment to the Securities and Exchange Commission upon request. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SEADRILL LIMITED | ||||||
| Date: June 18, 2026 | ||||||
| By: | /s/ Grant Creed | |||||
| Name: | Grant Creed | |||||
| Title: | Chief Financial Officer | |||||