Seadrill Partners LLC Announces Full Exercise of Underwriters' Option, Closing of Public Offering and Closing of Private Plac...
March 17 2014 - 2:23PM
London, United
Kingdom, March 17, 2014 - Seadrill Partners LLC
("Seadrill Partners" or the "Company") (NYSE: SDLP) announced today
that its previously announced public offering (the "Offering") of
10,400,000 common units representing liability company interests at
a price of $30.60 per common unit has closed. In addition, the
underwriters exercised in full their option to purchase an
additional 1,560,000 common units. The total number of common units
sold in the Offering was therefore 11,960,000. Concurrently with
the closing of the Offering, Seadrill Limited ("Seadrill")
purchased directly from the Company 1,633,987 common units at a
price of $30.60 per unit.
The Company intends to use the net proceeds from the Offering and
private placement to Seadrill to fund its portion of the purchase
price in connection with the previously announced proposed
acquisition of the entities that own and operate the drillship, the
West Auriga.
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.
Copies of the 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 Offering, 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.
March 17, 2014
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#1769371
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