NADL - Interim funding from Seadrill Limited amended
(Thomson Reuters ONE) -
Hamilton, Bermuda, July 31, 2017 - North Atlantic Drilling Ltd ('NADL' or 'the
Company') announces today that it has amended the revolving credit facility
provided by Seadrill Limited, its majority shareholder, to mature on September
12, 2017. This interim funding arrangement has been put in place while broader
restructuring negotiations continue at both companies.
The facility was originally entered into on January 31, 2017 for $25 million
maturing on March 31, 2017. On April 25, 2017 the facility was amended to mature
on June 30, 2017 and was increased to $50 million. On June 27, 2017 the facility
was amended to mature on July 31, 2017 and was increased to $150 million.
FORWARD LOOKING STATEMENTS
This news release includes forward looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company's plans, strategies, business prospects, changes and trends in its
business and the markets in which it operates. These statements are made based
upon management's current plans, expectations, assumptions and beliefs
concerning future events impacting the Company and therefore involve a number of
risks, uncertainties and assumptions that could cause actual results to differ
materially from those expressed or implied in the forward-looking statements,
which speak only as of the date of this news release. Consequently, no forward-
looking statement can be guaranteed. When considering these forward-looking
statements, you should keep in mind the risks described from time to time in the
Company's filings with the Securities and Exchange Commission, including its
Annual Report on Form 20-F (File No. 001-34667). The Company undertakes no
obligation to update any forward looking statements to reflect events or
circumstances after the date on which such statement is made or to reflect the
occurrence of unanticipated events. New factors emerge from time to time, and it
is not possible for the Company to predict all of these factors. Further, the
Company cannot assess the impact of each such factor on its business or the
extent to which any factor, or combination of factors, may cause actual results
to be materially different from those contained in any forward looking
statement.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: North Atlantic Drilling Ltd. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 31.07.2017 - 06:05 Uhr
Sprache: Deutsch
News-ID 554517
Anzahl Zeichen: 3046
contact information:
Town:
Stavanger
Kategorie:
Business News
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