Seadrill Partners LLC (SDLP.N)
24 May 2017
* Says discussions with its lending banks are well advanced and they are targeting execution of an agreement during June 2017, prior to implementation of broader Seadrill Limited restructuring
* Says it would defer its first quarter dividend decision until an agreement is reached with its lending banks to insulate itself from potential events of default by Seadrill Limited should Seadrill Limited require the use of in court processes, such as schemes of arrangement or chapter 11 proceedings, to implement its restructuring
* Seadrill Partners announces contract award for West Aquarius
* Shares slide 25 pct before gradual recovery (Adds company's assumptions on rig rates, comment, updates share)
OSLO, Jan 31 Oslo-listed rig firm Seadrill is looking to raise at least $1 billion in new capital as talks to restructure its debt and liabilities worth $14 billion are taking longer than expected, wiping more than a fifth off its market value.
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