NADL - Interim funding from Seadrill Limited

ID: 1483688
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(Thomson Reuters ONE) -

Hamilton, Bermuda, January 31, 2017 - North Atlantic Drilling Ltd ("NADL" or
"the Company") announces today that it has entered into a $25 million revolving
credit facility provided by Seadrill Limited, its majority shareholder and
maturing March 31, 2017.  This interim funding arrangement has been put in place
while broader restructuring negotiations continue at both companies.  A more
comprehensive package of measures is targeted to be agreed by April 30, 2017.

This information is subject of 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

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Date: 01/31/2017 - 08:19
Language: English
News-ID 1483688
Character count: 2869
Firma: North Atlantic Drilling Ltd.
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Stadt: Stavanger


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