the Case is updated.
Seadrill’s shares rose Tuesday afternoon over 40 per cent on the stock exchange in Oslo.
This happens after anonymous sources have disclosed to Bloomberg that the storaksjonær John Fredriksen is willing to lend money to crisis-hit rig company.
Update: Seadrill shares have fallen back, but is still up more than 28% to 22,89 million clock 14.01 bst.
Seadrill has since the last winter the efforts to land a major restructuring, as a result of difficult market conditions and high debt.
According to the sources may Fredriksen-the loan will be between 800 million and 1.2 billion dollars.
the Company would originally have presented a sketch to the solution before the summer, but this has later been postponed. Ceo Per Wullf enlightened recently to E24 that the goal is to find a solution within the year.
” We have worked intensely with this, but have not come to a solution yet. First, we need to come to an agreement with the banks. We must then agree with the bondholders. It has been up and down, and has been emotional, said Wullf.
Kursfall
Seadrill’s share price has fallen significantly in the wake of the oljeprisnedturen from the summer of 2014 – a development that has been exacerbated by significant oversupply in the rig market.
Analyst on Seadrill: – Seadrill shares fate is in kreditorenes hands
Despite today’s major upswing is the stock down over 86 per cent in the last two years, and it has fallen more than 28 percent so far this year.
That Wullf is inside the company has several major maturity structure with in the coming years. The first bond that matures is the nominal value of one billion dollars and runs out in september next year.
Since follows forfallene like pearls on a string: 2018, 2019 and 2020.
The complex gjeldsstrukturen should have done restruktureringsarbeidet very demanding, and experts fear that a possible solution can be “painful” for egenkapitaleierne:
The lowest kursmålet of the stock is only 0.12 dollars, the equivalent of a bare crown.
Mediankursmålet is 1,47 dollars, with a clear predominance of the strong salgsanbefalinger.
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