This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SDRL - Seadrill Announces Proposed Offering Of US$500 Million Of Unsecured Senior Notes Due 2020

HAMILTON, Bermuda, Sept. 20, 2013 (GLOBE NEWSWIRE) --

Hamilton, Bermuda, September 20, 2013 - Seadrill Limited (the "Company" or
"Seadrill") (NYSE: SDRL), a global offshore drilling contractor, announced today
that it intends to offer US$500 million in aggregate principal amount of
unsecured senior notes due 2020 (the "Notes") in a private offering within the
United States to qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), and to certain other
persons outside of the United States in reliance on Regulation S under the
Securities Act.

Seadrill intends to use the net proceeds of this offering to for repayment of
debt, drilling unit acquisitions and general corporate purposes, including
working capital.

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy the Notes, nor shall there be any sale of the Notes in any
jurisdiction in which such offer, solicitation or sale is unlawful. Any offer of
the Notes will be made only by means of a private offering memorandum.

The Notes have not been, and will not be, registered under the Securities Act or
the securities laws of any other jurisdiction and may not be offered or sold in
the United States absent registration or an applicable exemption from
registration requirements under the Securities Act.

Cautionary Notice Regarding Forward-looking Statements

This report contains forward-looking statements. These statements are based on
various assumptions, many of which are based, in turn, upon further assumptions,
including Seadrill management's examination of historical operating trends.
Including among others, factors that, in Seadrill's view, could cause actual
results to differ materially from the forward looking statements contained in
this report are the following: (i) the competitive nature of the offshore
drilling industry; (ii) oil and gas prices; (iii) technological developments;
(iv) government regulations; (v) changes in economical conditions or political
events; (vi) inability of Seadrill to obtain financing for the newbuilds or
existing assets on favorable terms or at all; (vii) changes of the spending plan
of our customers; (viii) changes in Seadrill's operating expenses including crew
wages; (ix) insurance; (x) dry-docking; (xi) repairs and maintenance; (xii)
failure of shipyards to comply with delivery schedules on a timely basis; (xii)
and other important factors mentioned from time to time in our reports filed
with the United States Security Exchange Commission ("SEC") and the Oslo Stock
Exchange.

The forward-looking statements included in this press release are made only as
of the date of this release, and except as otherwise required by federal
securities law, we do not have any obligation to publicly update or revise any
forward-looking statements to reflect subsequent events or circumstances.



This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


[HUG#1730477]

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs