Seadrill Bonds Sold by Norwegian Fund as Cleanup Seen Too Messy


The debt restructuring of offshore driller Seadrill Ltd. is becoming more of a hassle than it’s worth for some junk bond investors.

Holberg Kreditt has sold all its Seadrill bonds, according to Gunnar Torgersen, chief investment officer at Bergen, Norway-based Holberg Fondsforvaltning AS. It disposed of about $56 million of the 2017 bond in April and May after adding to the position as recently as February.

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