HAMILTON, BERMUDA--(Marketwire - Oct 19, 2012) - Seadrill Partners LLC (NYSE: SDLP)
("Seadrill Partners") today announced that it priced its initial public
of 8,750,000 common units at a price of $22.00 per unit. Seadrill
granted the underwriters a 30-day over-allotment option to purchase
1,312,500 additional common units, at the same price per unit, to cover
over-allotments, if any. The common units being offered to the public
to begin trading on October 19, 2012, on the New York Stock Exchange
symbol "SDLP." The offering is expected to close on or about October 24,
subject to customary closing conditions.
Following completion of the offering, Seadrill Limited ("Seadrill")
16,065,025 common units and all of the subordinated units of Seadrill
representing a 78.8% limited liability company interest in Seadrill
the underwriters' over-allotment option is exercised in full, Seadrill
14,752,525 common units and all of the subordinated units, representing a
limited liability company interest in Seadrill Partners.
Seadrill Partners intends to use the net proceeds from the offering,
estimated to be approximately $175.5 million, after deducting
underwriting discounts and commissions, structuring fees and estimated
expenses, as consideration for the acquisition of its interest in
Operating LP and Seadrill Capricorn Holdings LLC.
Citigroup, Morgan Stanley and Wells Fargo Securities are acting as the
book-running managers in the transaction. The offering of the common units
be made only by means of a prospectus. A written prospectus
requirements of Section 10 of the Securities Act of 1933 may be obtained
the offices of:
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Edgewood, NY 11717., Email: BATProspectusdept@citi.com, Telephone:
Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd
New York, NY 10014, Email: firstname.lastname@example.org, Telephone:
Wells Fargo Securities, Attn: Equity Syndicate Dept., 375 Park Avenue, New
NY 10152, Email: email@example.com, Telephone: 800-326-5897.
A registration statement relating to Seadrill Partners common units has
filed with and declared effective by the U.S. Securities and Exchange
(SEC). The registration statement is available on the SEC's
This news release shall not constitute an offer to sell or the
an offer to buy nor shall there be any sale of the common units described
nor will there be any sales of these common units in any state or
in which such offer, solicitation, or sale would be unlawful
registration or qualification under the securities laws of any such
The statements in this news release that are not historical facts
forward-looking statements. Such forward looking statements,
expected closing date and the expected net proceeds from the offering,
upon the current beliefs and expectations of Seadrill Partners'
subject to risks and uncertainties which could cause actual results to
from the forward looking statements. The information set forth herein
read in light of such risks. Seadrill Partners does not assume any
update the information contained in this news release.
This information is subject of the disclosure requirements pursuant to
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