SDLP - Seadrill Partners LLC Announces Public Offering of 10,400,000 Common Units
March 11 2014 - 4:36PM
London, United
Kingdom, March 11, 2014 - Seadrill Partners LLC ("Seadrill
Partners" or the "Company") (NYSE: SDLP) announced today that it
plans to offer 10,400,000 common units representing liability
company interests in a public offering. In addition, and
concurrently with the closing of the public offering, Seadrill
Limited ("Seadrill") has agreed that it will purchase at least
$50.0 million of common units at the public offering price. The
Company intends to use the net proceeds from the public offering
and the concurrent private placement to fund its portion of the net
(after debt) purchase price in connection with the previously
announced proposed acquisition by Seadrill Capricorn Holdings LLC
of the entitles that own and operate the drillship, the West Auriga(the "Auriga Acquisition").
Seadrill Partners was formed by Seadrill to own, operate and
acquire offshore drilling rigs under long-term contracts. Its
current fleet consists of four semi-submersible rigs (the
West Capricorn, the West
Aquarius, the West Leo and the
West Sirius), one drillship (the West Capella), two tender rigs (the T-15 and the T-16), and one
semi-tender (the West Vencedor).
Goldman, Sachs & Co., BofA
Merrill Lynch, Credit Suisse, Morgan Stanley, RBC Capital Markets
and Wells Fargo Securities are acting as the joint bookrunning
managers, in connection with the offering of common units.
When available, copies of the
preliminary prospectus supplement and accompanying base prospectus
related to this offering may be obtained from the offices of:
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; BofA
Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus
Department or Email dg.prospectus_requests@baml.com; Credit Suisse
Securities (USA) LLC, Attn: Prospectus Department, One Madison
Avenue, New York, NY 10010, telephone: 1-800-221-1037 or email at
newyork.prospectus@credit-suisse.com; Morgan Stanley, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014; RBC Capital Markets, LLC, Three World Financial Center, 200
Vesey Street, 8th Floor, New York, NY 10281-8098, Telephone:
877-822-4089; or Wells Fargo Securities, Attention: Equity
Syndicate Department, 375 Park Avenue, New York, New York, 10152,
Telephone: 800-326-5897, Email: cmclientsupport@wellsfargo.com.
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. 333-192053). 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.
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#1768091
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