SDRL - Seadrill announces pricing of offering of US$500 million of unsecured Senior Notes due 2020

Sat Sep 21, 2013 4:43am EDT

* Reuters is not responsible for the content in this press release.

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 today
the  pricing of its  previously announced offering  of $500 million in aggregate
principal  amount of its 6.125% Senior Notes due 2020 (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.  The sale of the Notes is expected to be
consummated  on  September  25, 2013, subject  to  customary closing conditions.
Seadrill  intends to use the  net proceeds of this  offering to for repayment of
debt,  drilling  unit  acquisitions  and  general  corporate purposes, including
working capital.

This  press release shall not constitute an offer to sell or the solicitation of
an  offer to  buy the  Notes, nor  shall there  be any  sale of the Notes in any
jurisdiction in which such offer, solicitation or sale is unlawful. Any offer of
the 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 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 and the Oslo Stock Exchange.

The forward-looking statements included in this press release are made only as
of the date of this release, and except as otherwise required by federal
securities law, we do not have any obligation to publicly update or revise any
forward-looking statements to reflect subsequent events or circumstances.






This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


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CONTACT: Seadrill
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