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

HAMILTON, Bermuda, Sept. 21, 2013 (GLOBE NEWSWIRE) --
Hamilton,  Bermuda,  September  21, 2013 -  Seadrill  Limited  (the "Company" or"Seadrill") (NYSE: SDRL), a global offshore drilling contractor, announced todaythe  pricing of its  previously announced offering  of $500 million in aggregateprincipal  amount of its 6.125% Senior Notes due 2020 (the "Notes") in a privateoffering  within the United States to qualified institutional buyers pursuant toRule  144A under the Securities Act of  1933, as amended (the "Securities Act"),and  to  certain  other  persons  outside  of  the  United States in reliance onRegulation  S under the Securities Act.  The sale of the Notes is expected to beconsummated  on  September  25, 2013, subject  to  customary closing conditions.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 and the Oslo Stock Exchange.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#1730605]
CONTACT: Seadrill         +47 51 30 99 00

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