WILMINGTON, Del.--(BUSINESS WIRE)--Pursuant to that certain Confidentiality Agreement among Dleif Drilling LLC (“Dleif”) and certain holders of the 5.875% notes due 2022 (the "Notes") issued by Schahin II Finance Company (SPV) Limited, Dleif is publicly disclosing that on August 7, 2017, it entered into an agreement (the “Agreement”) with Deutsche Bank Trust Company Americas (not in its individual capacity, but solely in its capacity as indenture trustee, registrar, paying agent and transfer agent (the “Indenture Trustee”) pursuant to an Indenture, dated March 28, 2012, relating to the Notes) and Minedorf Shipping Inc. (“Minedorf”). In accordance with an instruction received from holders constituting a majority of holders of the Notes (the “Majority”), the Indenture Trustee entered into the Agreement, pursuant to which the Indenture Trustee was directed by the Majority to apply to an English court for the sale of the drillship Sertão through an English maritime proceeding. The agreed purchase price between the Indenture Trustee (acting at the direction of the Majority) and Minedorf was 140 million U.S. dollars, and the Agreement included an exclusivity period through October 20, 2017. The conditions precedent to the Agreement were not satisfied prior to the expiration of the exclusivity period. The Agreement has now terminated pursuant to its terms.