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Seadrill suspends debt payments, hires restructuring advisers

Oslo-listed offshore driller can suspend interest payments due this month after agreeing a deal with a group of its senior lenders. But the deal does not cover lease agreements for three of its rigs, leaving open the risk of cross-defaults

Seadrill announced forbearance agreements on some of its debts due this month. The Oslo-listed offshore driller has hired the same stable of restructuring advisers that led it through Chapter 11 two years ago as it tries to restructure $7.3bn in debt.

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