6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2018

Commission File Number 333-224459

Seadrill Limited

(Exact name of Registrant as specified in its Charter)

Par-la-Ville Place, 4th Floor

14 Par-la-Ville Road

Hamilton HM 08 Bermuda

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(1). Yes  ☐    No  ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(7). Yes  ☐    No  ☒

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Seadrill New Finance Limited (“Seadrill New Finance”), a wholly owned subsidiary of Seadrill Limited (the “Company”), has instructed the Trustee to send a notice (the “Notice”) of redemption in the name of Seadrill New Finance (the “Redemption”) to the holders of its 12.0% Senior Secured Notes due 2025 (the “Notes”) on October 2, 2018, pursuant to the Indenture, dated as of July 2, 2018 (the “Issue Date”), by and among Seadrill New Finance, the Company, the guarantors party thereto, and Deutsche Bank Trust Company Americas, as trustee, principal paying agent, transfer agent, registrar, and collateral agent (the “Trustee”), as amended, supplemented or modified (the “Indenture”). Pursuant to the Notice, Seadrill New Finance will mandatorily redeem approximately $121.2 million in principal amount of the Notes, to the extent outstanding, on November 1, 2018 (the “Redemption Date”). The redemption price of the Notes, as set forth in the Indenture, is equal to 100% of the principal amount of such Notes redeemed, plus accrued and unpaid interest and additional amounts, if any, from the Issue Date to, but not including, the Redemption Date, which redemption price will be approximately $126 million.

A copy of the press release announcing the Redemption is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

This Report of Foreign Private Issuer on Form 6-K does not constitute a notice of redemption under the Indenture, nor an offer to tender for, or purchase, any Notes or any other security.

EXHIBITS

The following exhibit is filed as part of this report:

Number	Exhibit:
99.1	Press release, dated October 2, 2018, announcing the mandatory redemption.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		SEADRILL LIMITED
Date: October 2, 2018	By:	/s/ Mark Morris
		Name: Mark Morris
		Title: Chief Financial Officer

EX-99.1

Exhibit 99.1

SDRL – Mandatory par redemption of 12.0% Senior Secured Notes due 2025

Hamilton, Bermuda, October 2, 2018 - Seadrill Limited (“Seadrill” or the “Company”) announces a mandatory par redemption of approximately $126 million principal amount and accrued interest of its 12.0% Senior Secured Notes due 2025 (the “Notes”).

In April 2018, we entered into an agreement with Jurong shipyard determining that our share of the West Rigel sale proceeds would be $126 million. As per the terms of the Indenture for the Notes issued on July 2, 2018 (the “Issue Date”), the Company will use its share of the West Rigel sale proceeds to redeem the Notes, on a pro rata basis from holders of record on October 2, 2018 (the “Record Date”), on November 1, 2018 (the “Redemption Date”). The redemption price of the Notes, as set forth in the Indenture, is par plus accrued and unpaid interest, from the Issue Date to, but not including, the Redemption Date.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company’s plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company’s filings with the Securities and Exchange Commission, including its 2017 Annual Report on Form 20-F (File No. 001-34667) and its Registration Statement on Form F-1 (Registration No. 333-224459). The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.