NADL - Interim funding from Seadrill Limited Exten
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Posted On: 03/15/2017 4:00:18 AM
NADL - Interim funding from Seadrill Limited Extended
Hamilton, Bermuda, March 15, 2017 - North Atlantic Drilling Ltd ('NADL' or 'the Company') announces today that it has extended the $25 million revolving credit facility provided by Seadrill Limited, its majority shareholder, to April 31, 2017. The facility was originally entered into on January 31, 2017 and matured on March 31, 2017. This interim funding arrangement has been put in place while broader restructuring negotiations continue at both companies. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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