SDLP - Seadrill Partners LLC Announces Public Offering of 6,100,000 Common Units
June 18 2014 - 4:07PM
London,
United Kingdom, June 18, 2014 - Seadrill Partners LLC
("Seadrill Partners" or the "Company") (NYSE: SDLP) announced today
that it plans to offer 6,100,000 common units representing limited
liability company interests in a public offering. In addition,
Seadrill Limited ("Seadrill") has agreed to purchase directly from
Seadrill Partners, in a private placement, at least $100.0 million
of common units to close concurrently with the public offering of
common units. The Company intends to use the net proceeds
from the public offering and the concurrent private placement for
general company purposes, which may include acquisitions, repayment
of indebtedness and working capital purposes.
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),
two drillships (the West Capella and the
West Auriga), and three tender rigs (the
T-15, the T-16 and
the West Vencedor).
BofA Merrill Lynch and Morgan Stanley will act as book running
managers for the offering and propose to offer the shares at
prevailing market prices or otherwise from time to time through the
NYSE, the over-the-counter market, negotiated transactions or
otherwise.
When available, copies of the
preliminary prospectus supplement and accompanying base prospectus
related to this offering may be obtained from the offices of BofA
Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus
Department or Email dg.prospectus_requests@baml.com; and Morgan
Stanley, Attention: Prospectus Department, 180 Varick Street,
2nd Floor, New
York, NY 10014, Email: prospectus@morganstanley.com, Telephone:
866-718-1649.
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.
333-196286). 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#1795690
Seadrill Partners (NYSE:SDLP)
Historical Stock Chart
From May 2024 to Jun 2024
Seadrill Partners (NYSE:SDLP)
Historical Stock Chart
From Jun 2023 to Jun 2024