{"url_path":"/sec/sdrl/8-k/2026-06-30/item-8-01","section_key":"item-8-01","section_title":"Item 8.01 Other Events.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-30","source_url":"https://www.sec.gov/Archives/edgar/data/1737706/0001193125-26-290671-index.html","accession_number":"0001193125-26-290671","cik":"0001737706","ticker":"SDRL","issuer_name":"SEADRILL Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1737706/0001193125-26-290671-index.html","primary_entity_key":"0001737706","primary_entity_name":"SEADRILL Ltd"},"word_count":407,"has_tables":true,"body_markdown":"Item 8.01\n\nOther Events.\n\nSatisfaction and Discharge\n\nAs previously announced, on June 15, 2026, in connection with the commencement of the Offering, the Issuer delivered notices to redeem (the “Redemption Notice”) (i) 10% of the outstanding aggregate principal amount of its 8.375% Senior Secured Second Lien Notes due 2030 (the “2030 Notes”) at 103% of the principal amount thereof and (ii) the remaining aggregate principal amount of the 2030 Notes at 100% of the principal amount thereof, plus a make-whole premium, in each case, together with accrued and unpaid interest thereon, all in accordance with the provisions of the indenture governing the 2030 Notes (the “2030 Notes Indenture”) (each, a “Redemption”). Each Redemption was conditioned only upon the consummation of a financing transaction that resulted in gross proceeds of at least $600 million. As of March 31, 2026, approximately $575 million aggregate principal amount of the 2030 Notes remained outstanding.\n\nOn June 30, 2026, in connection with the issuance of the Notes, the Company (i) irrevocably deposited (or caused to be deposited) a portion of the net proceeds from the Offering with the trustee under the 2030 Notes Indenture in an amount sufficient to redeem all of the outstanding 2030 Notes and fund the payment of the principal, premium and interest to, but excluding, the applicable redemption date for such outstanding 2030 Notes, together with all other sums payable under the 2030 Notes Indenture and (ii) notified the trustee under the 2030 Notes Indenture that the condition under the Redemption Notice was satisfied. As a result (and at the time) of such deposit, the 2030 Notes Indenture was satisfied and discharged in accordance with its terms.\n\nCredit Agreement Amendment\n\nAs previously disclosed, on June 16, 2026, the Company entered into Amendment No. 2 to Senior Secured Revolving Credit Agreement, dated as of June 16, 2026 (the “Amendment”), by and among the Issuer, 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, to, among other things, increase the commitments for revolving borrowings from $225 million to $300 million. The Amendment became effective on June 30, 2026, and the commitments thereunder became effective and available to be borrowed, subject to customary borrowing conditions. The revolving credit facility under the Credit Agreement has not been drawn to date."}