Offshore drilling company Seadrill Ltd. said late Tuesday is has filed for bankruptcy protection and agreed to a major restructuring plan with its senior lenders. Under the plan, the company’s lenders will extend the maturity on $5.7 billion in debt until 2020. The restructuring agreement also delivers $1.06 billion in new capital, comprised of $860 million in secured notes and $200 million of equity. The struggling driller said last month it was planning to file for bankruptcy protection as part of a plan to restructure its debt. The Bermuda-based company, controlled by Norwegian shipping magnate John Fredriksen, is one of the world’s largest offshore drilling companies.
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