NADL - Interim funding from Seadrill Limited
January 31 2017 - 8:18AM
Hamilton, Bermuda, January 31, 2017 - North
Atlantic Drilling Ltd ("NADL" or "the Company") announces today
that it has entered into a $25 million revolving credit facility
provided by Seadrill Limited, its majority shareholder and maturing
March 31, 2017. This interim funding arrangement has been put
in place while broader restructuring negotiations continue at both
companies. A more comprehensive package of measures is
targeted to be agreed by April 30, 2017.
This information is subject
of the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: North Atlantic Drilling Ltd. via
Globenewswire
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