SDLP TL B 1L USD

Seadrill Partners

Credit, Energy


Seadrill Partners 2/14 TL Feb ’21 

Publicly traded companies mentioned herein: ENSCO PLC (ESV), Seadrill Partners LLC (SDLP), Transocean Ltd (RIG)

Highlights

The presenter sees upside on Seadrill Partners (SDLP), and thinks the current price of 75 cents on the $2.9 billion of Senior Secured Feb ’21 Term Loan represents a favorable risk/reward set-up, given his analysis of the underlying value of SDLP and his subsequent belief that the term loan is covered at par, and will therefore be pulled towards it.

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Idea Discussion

Commentor 1 - 2 weeks ago

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