SDRL - North Atlantic Drilling Launches Amendment Process for NADL NOK 1.5 Billion Bond Maturing in 2018
(Thomson Reuters ONE) -
Hamilton, Bermuda, January 22, 2015 - Seadrill ("Seadrill" or the "Company")
announces that its majority owned subsidiary, North Atlantic Drilling, has
launched an amendment process whereby Seadrill Limited will provide a guarantee
for North Atlantic Drilling's NOK 1.5 billion bond maturing in 2018, in exchange
for some amendments to the bond covenant package, namely replacing the NADL's
current financial covenants with Seadrill's financial covenants from Seadrill's
NOK denominated bonds.
Concurrent with the amendment process for the Bond Agreement, North Atlantic
Drilling has also launched an amendment process for its secured credit
facilities whereby Seadrill will provide a guarantee. Successful conclusion of
this process will amend the terms of the loan agreements to align with the terms
set forth in Seadrill's loan agreements. North Atlantic's lenders have been
supportive thus far and we expect successful conclusion of this amendment in the
weeks to come.
FORWARD LOOKING STATEMENTS
The statements described in this presentation that are not historical facts are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-
looking statements which could be made include, but are not limited to,
statements involving prospects for the Company, expected revenues, capital
expenditures, costs and results of operations and contingencies and other
factors discussed in the Company's most recent annual report on the Form 20-F
for the year ended December 31, 2013 and in the Company's other filings with the
SEC, which are available free of charge on the SEC's website at www.sec.gov.
Should one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from
those indicated. All subsequent written and oral forward-looking statements
attributable to the Company or to persons acting on our behalf are expressly
qualified in their entirety by reference to these risks and uncertainties. You
should not place undue reliance on forward-looking statements. Each forward-
looking statement speaks only as of the date of the particular statement, and we
undertake no obligation to publicly update or revise any forward-looking
statements.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1888762]
Unternehmensinformation / Kurzprofil:
Datum: 22.01.2015 - 08:55 Uhr
Sprache: Deutsch
News-ID 366168
Anzahl Zeichen: 3262
contact information:
Town:
Hamilton
Kategorie:
Business News
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