John Fredriksen's Seadrill has emerged from chapter 11 after successfully completing a reorganisation plan that involves $2.4bn in unsecured debt.
The scheme has left the company with more than $1bn in fresh capital through a scheme that also entails $1bn in newbuild commitments and "substantial" asset collateral.
The plan has also negotiated $250m in unsecured interest rate and currency swap claims while extending near-term debt maturities, the company said.
