Seadrill Partners LLC Announces Full Exercise of Underwriters' Option, Closing of Public Offering and Closing of Private Plac...
December 09 2013 - 1:59PM
Seadrill Partners LLC ("Seadrill
Partners" or the "Company") (NYSE: SDLP) announced today that its
previously announced public offering (the "Offering") of 11,200,000
common units representing liability company interests at a price of
$29.50 per common unit has closed. In addition, the underwriters
exercised in full their option to purchase an additional 1,680,000
common units. The total number of common units sold in the
Offering was therefore 12,880,000. Concurrently with the
closing of the Offering, Seadrill Limited ("Seadrill") purchased
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 Offering and 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 acted as the joint bookrunning
managers, and DNB Markets, Fearnley Securities and Global Hunter
Securities acted as co-managers, in connection with the
Offering.
Copies of the prospectus
supplement and accompanying base prospectus related to the 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
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#1748732
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