HAMILTON, BERMUDA--(Marketwire - Sep 7, 2012) - Seadrill Limited (the "Company" or
"Seadrill") (NYSE: SDRL), a global offshore drilling contractor, announced
today
that it intends to offer $1.0 billion in aggregate principal amount of
unsecured
notes due 2017 (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 repay existing
indebtedness and to fund growth capital expenditures.
This press release shall not constitute an offer to sell or the
solicitation of
an offer to buy the Notes and the related guarantees, nor shall there
be any
sale of the Notes and the related guarantees in any jurisdiction in which
such
offer, solicitation or sale is unlawful. Any offer of the Notes and
related
guarantees will be made only by means of a private offering memorandum.
The Notes and the related guarantees 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.
This information is subject of the disclosure requirements pursuant to
section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Seadrill Limited via Thomson Reuters ONE
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