Offshore drilling services company Seadrill Ltd. has made “significant progress” with its banks on the terms of a debt restructuring plan that will likely require filing for bankruptcy in the U.S. or U.K.Seadrill said Wednesday it is in advanced talks with secured lenders and third-party investors on the terms of a “comprehensive recapitalization.” Absent an additional extension from creditors, Seadrill faces a July 31 deadline for...

Source: Wall Street Journal May 24, 2017 20:26 UTC