SDLP - Seadrill Partners LLC Announces Pricing of Public Offering of 11,200,000 Common Units
December 04 2013 - 2:17AM
London,
United Kingdom, December 03, 2013 - Seadrill Partners LLC
("Seadrill Partners" or the "Company") (NYSE: SDLP) announced today
that it priced its offering of 11,200,000 common units representing
liability company interests in a public offering at a price of
$29.50 per common unit. The Company has granted the underwriters a
30-day option to purchase up to an additional 1,680,000 common
units.
In addition, and concurrently with
the closing of the public offering, Seadrill Limited ("Seadrill")
has agreed to purchase directly from the Company 3,394,916 common
units at a price of $29.50 per unit.
The Company intends to use the net
proceeds from the public offering and the concurrent private
placement to Seadrill to fund its portion of the cash purchase
price in connection with the previously announced proposed
acquisitions by Seadrill Operating LP and Seadrill Capricorn
Holdings LLC of the semi-submersible drilling rigs, the West Leo and the West Sirius,
respectively (the "Acquisitions").
Seadrill Partners was formed by
Seadrill to own, operate and acquire offshore drilling rigs under
long-term contracts. Its current fleet consists of two
semi-submersible rigs (the West Capricorn
and the West Aquarius), one drillship (the
West Capella), two tender rigs (the
T-15 and the T-16),
and one semi-tender (the West Vencedor).
Citigroup, BofA Merrill Lynch, Goldman, Sachs
& Co., Morgan Stanley, Wells Fargo Securities, Deutsche Bank
Securities and RBC Capital Markets are acting as the joint
bookrunning managers, and DNB Markets, Fearnley Securities and
Global Hunter Securities are acting as co-managers, in connection
with the offering of common units.
When available, copies of the
prospectus supplement and accompanying base prospectus related to
this offering may be obtained from the offices of: Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, Telephone: 800-831-9146, Email:
BATProspectusdept@citi.com; BofA Merrill Lynch, 222 Broadway, New
York, NY 10038, Attn: Prospectus Department or Email
dg.prospectus_requests@baml.com; Goldman, Sachs & Co.,
Attention: Prospectus Department, 200 West Street, New York, NY
10282, Telephone: 866-471-2526, Facsimile: 212-902-9316, Email:
prospectus-ny@ny.email.gs.com; Morgan Stanley, Attn: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014;
Wells Fargo Securities, Attention: Equity Syndicate
Department, 375 Park Avenue, New York, New York, 10152, Telephone:
800-326-5897, Email: cmclientsupport@wellsfargo.com; Deutsche Bank
Securities Inc., Attention: Prospectus Group, 60 Wall Street, New
York, NY 10005-2836, Telephone: 800-503-4611, Email:
prospectus.cpdg@db.com, or RBC Capital Markets, LLC, Three World
Financial Center, 200 Vesey Street, 8th Floor, New York, NY
10281-8098, Telephone: 877-822-4089.
This news release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. The common units in the public offering will be
offered and sold pursuant to an effective registration statement on
Form F-3 previously filed with the Securities and Exchange
Commission (the "SEC") (File No. 333192053). This offering may be
made only by means of a prospectus supplement and accompanying base
prospectus, which will be filed with the SEC.
The statements in this press
release that are not historical facts may be forward-looking
statements. These forward looking statements, which include
statements related to the public offering of common units, the
concurrent private placement and the use of proceeds therefrom, are
based upon the current beliefs and expectations of Seadrill
Partners' management and are subject to risks and uncertainties,
which could cause actual results to differ from the forward looking
statements. The information set forth herein should be read in
light of such risks. Seadrill Partners does not assume any
obligation to update the information contained in this press
release.
December 3, 2013
Questions should be directed to:
Graham Robjohns: Chief Executive Officer
Rune Magnus Lundetræ: Chief Financial Officer
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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: Seadrill Partners LLC via Globenewswire
HUG#1747581
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