Bermuda: Seadrill Successfully Completes Issuance of US$350 Million Bond

Seadrill Limited announces today that it has successfully completed issuance of a US$350 million bond in the international market.

The senior unsecured bonds have a coupon of 6.5% payable semi-annually in arrears and mature in October 2015. The bonds will be issued and redeemed at 100% of their principal amount. Settlement date is scheduled on October 5, 2010. The bonds will be listed on the Oslo Stock Exchange. Proceeds from the bond issue will be used for general corporate purposes.

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Source: Seadrill,September 30, 2010,