SFL Corp has warned investors that the forbearance period agreed between Seadrill and its senior lenders could expose the leasing firm to risk of enforcement action.
Oslo-listed Seadrill has signed forbearance agreements with senior lenders, to halt interest repayments on its bank debt and bonds until 29 September.
But this halt in interest payments could constitute an event of default under the leases and corresponding financing agreements for three drilling rigs that Seadrill has leased from SFL.
