Hva skjer med SDRL aksjen etter 11.desember?

Krekling
07.12.2017 kl 22:28 SDRL 456

What is the go-shop period? Seadrill filed for bankruptcy in September 2017, when the company announced its restructuring plan. However, the company is in a go-shop period until December 11, 2017, which means that until that time, market participants can make offers or competing bids for Seadrill. Otherwise put, any offer made on the company should be more attractive than its current restructuring plan.


Seadrill’s restructuring plan
In Seadrill’s restructuring plan, new capital worth $1 billion will be injected into the company, which will consist of $860 million in secured notes and $200 million in equity. Below are a few more key details:

Bank debt of $5.7 billion will be extended by about five years, and there won’t be amortization payments due until 2020. Also, the company has significant covenant relief.
Seadrill’s unsecured bonds worth $2.3 billion will be converted into 15% equity in the newly restructured company.

Existing shareholders won’t be totally wiped out but will get 2% in the post-restructured company.

Seadrill’s future
For this reason, December 11 will mark an end of an important period for Seadrill. From September to December, despite the bankruptcy, Seadrill stock saw some big moves, likely due to hopes that the company will be acquired by another big player in the industry.

Other big players in the industry include Diamond Offshore (DO), Rowan Companies (RDC), Transocean (RIG), and Ensco (ESV)—all of which have been sailing strong during the current downturn.



Redigert 07.12.2017 kl 22:41
ealtheseal
07.12.2017 kl 22:41 417

Da går denne go-shop perioden ut, dvs det åpne tidsrommet for å komme med forslag for restrukturering er over.

Da gjenstår den faktiske restruktureringen etter beste forslag på bordet og etter beste evne.
Krekling
07.12.2017 kl 22:49 416

Tenkte mest på setningen:
Existing shareholders won’t be totally wiped out but will get 2% in the post-restructured company.

Betyr det at vi får en kraftig utvanning av dagens SDRL aksjonærer, og dagen aksjeverdi blir 2% av det nye restrukturerte selskapet?