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SeaDrill Ltd's Seadrill Partners LLC Announces Launch of Initial Public Offering

Monday, 15 Oct 2012 02:27am EDT 

SeaDrill Ltd (SeaDrill) announced that on October 15, 2012, Seadrill Partners LLC (Seadrill Partners), a wholly owned subsidiary of SeaDrill announced that it has commenced an initial public offering (Offering) of 8,750,000 common units, representing limited liability company interests, pursuant to a registration statement on Form F-1 (including a prospectus) previously filed with the United States (US) Securities and Exchange Commission (SEC). Seadrill Partners intends to grant the underwriters a 30-day over-allotment option to purchase up to 1,312,500 additional common units. The common units being offered to the public have been approved for listing on the New York Stock Exchange under the symbol SDLP, subject to official notice of issuance. Based on the number of common units to be offered, SeaDrill will own a 78.8% limited liability company interest in Seadrill Partners following completion of the Offering (or a 75.7% limited liability company interest if the underwriters exercise in full their option to purchase additional common units). The offering of the common units will be made only by means of a prospectus. A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 

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