SDLP - Seadrill Partners LLC Announces Pricing of Public Offering
June 19 2014 - 8:54AM
London,
United Kingdom, June 19, 2014 - Seadrill Partners LLC
(NYSE: SDLP) ("Seadrill Partners" or the "Company") announced today
that it has priced its public offering of 6,100,000 common units,
which represent limited liability company interests, for total
estimated gross proceeds of approximately $200 million (before
deducting underwriting discounts and commissions and other
estimated offering expenses).
In addition, Seadrill Limited
("Seadrill") has agreed to purchase directly from the Company in a
private placement, $100 million of common units at the price at
which the common units will be sold to the underwriters, such
private placement 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.
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.
Copies of the preliminary
prospectus supplement and, when available, the final 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 are being
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.
FORWARD LOOKING
STATEMENTS
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#1796490
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