Seadrill Partners (SDLP)

• Seadrill Partners LLC (NYSE:SDLP) is an MLP formed by the Norwegian offshore oil and gas drilling Seadrill Limited (SDRL)
• Headquarters: United Kingdom
• Founded: 2012
• Div/yield 0.10/12.38
• Website http://www.seadrillpartners.com

  

• 2 months later

Seadrill amends certain credit facilities to insulate Seadrill Partners (SDLP) from Seadrill Limited's restructuring

• Seadrill (SDRL) announces that it has completed amendments to three secured credit facilities that relate to rigs purchased by Seadrill Partners (SDLP) from the Company that will insulate Seadrill Partners from events of default related to the Company's likely use of chapter 11 proceedings to implement its restructuring plan. The amendments to the three facilities remove Seadrill Partners and its consolidated entities as a borrower or guarantor and separate the facilities such that each resulting Seadrill Limited facility is secured only by Seadrill Limited's assets without recourse to Seadrill Partners or its assets.
• The amendments to the three facilities remove Seadrill Partners and its consolidated entities as a borrower or guarantor and separate the facilities such that each resulting Seadrill Limited facility is secured only by Seadrill Limited's assets without recourse to Seadrill Partners or its assets.
• As part of this transaction we have agreed to a prepayment of $100 million upon closing and two subsequent prepayments of $25 million, one of which will be made six months after closing and another of which will be made 12 months after closing, in each case distributed pro rata across the three resulting Seadrill Partners facilities.