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 todaythat it intends to offer US$500 million in aggregate principal amount ofunsecured senior notes due 2020 (the "Notes") in a private offering within theUnited States to qualified institutional buyers pursuant to Rule 144A under theSecurities Act of 1933, as amended (the "Securities Act"), and to certain otherpersons outside of the United States in reliance on Regulation S under theSecurities Act.Seadrill intends to use the net proceeds of this offering to for repayment ofdebt, drilling unit acquisitions and general corporate purposes, includingworking capital.This press release shall not constitute an offer to sell or the solicitation ofan offer to buy the Notes, nor shall there be any sale of the Notes in anyjurisdiction in which such offer, solicitation or sale is unlawful. Any offer ofthe 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 orthe securities laws of any other jurisdiction and may not be offered or sold inthe United States absent registration or an applicable exemption fromregistration requirements under the Securities Act.Cautionary Notice Regarding Forward-looking StatementsThis report contains forward-looking statements. These statements are based onvarious 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 actualresults to differ materially from the forward looking statements contained inthis report are the following: (i) the competitive nature of the offshoredrilling industry; (ii) oil and gas prices; (iii) technological developments;(iv) government regulations; (v) changes in economical conditions or politicalevents; (vi) inability of Seadrill to obtain financing for the newbuilds orexisting assets on favorable terms or at all; (vii) changes of the spending planof our customers; (viii) changes in Seadrill's operating expenses including crewwages; (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 filedwith the United States Security Exchange Commission ("SEC") and the Oslo StockExchange.The forward-looking statements included in this press release are made only asof the date of this release, and except as otherwise required by federalsecurities law, we do not have any obligation to publicly update or revise anyforward-looking statements to reflect subsequent events or circumstances.This information is subject of the disclosure requirements pursuant to section5-12 of the Norwegian Securities Trading Act.[HUG#1730477]

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX