Why Shares Of Seadrill Ltd Soared 78% In May

newsfeedback@fool.com (Matthew DiLallo), The Motley Fool
Thu, 06/07/2018 - 6:18am

Shares of Seadrill (NYSE: SDRL) rocketed in May, ending the month up 78%. Fueling the offshore driller's rebound were fading investor fears after the company received approval for its plan to exit bankruptcy in April. In mid-April, a U.S. judge approved Seadrill's plan to exit Chapter 11 bankruptcy. That deal will extend the maturities of $5 billion in bank loans and convert $2.3 billion of bond debt into equity.

Topics: seadrill nyse sdrl fueling april u.s chapter images seadrill billion bankruptcy company plan exit

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Why Shares Of Seadrill Ltd Soared 78% In May

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