Seadrill to Raise Funds in Private Offering

Seadrill Ltd. announces pricing of its offering of US$500 million of unsecured Senior Notes due 2020.

Global offshore drilling contractors, Seadrill Limited, has announced the pricing of its previously announced offering of $500 million in aggregate principal amount of its 6.125% Senior Notes due 2020 in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to certain other persons outside of the United States in reliance on Regulation S under the Securities Act.  T

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

The company makes it clear that 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.