UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2018
Commission File Number 333-224459
Seadrill Limited
(Exact name of Registrant as specified in its Charter)
Par-la-Ville Place, 4th Floor
14 Par-la-Ville Road
Hamilton HM 08 Bermuda
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(1). Yes ☐ No ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(7). Yes ☐ No ☒
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
On November 14, 2018, Seadrill Limited issued a press release announcing the completion of its previously announced offer to purchase for cash (the “Asset Sale Offer”) of its 12.0% Senior Secured Notes due 2025 (the “Notes”). A copy of the press release announcing the completion of the Asset Sale Offer is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
EXHIBITS
The following exhibit is filed as part of this report:
| Number |
Exhibit | |
| 99.1 | Press release, dated November 14, 2018, announcing the completion of an asset sale offer. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SEADRILL LIMITED | ||||||||
| Date: November 14, 2018 | By: | /s/ Mark Morris | ||||||
| Name: | Mark Morris | |||||||
| Title: | Chief Financial Officer of Seadrill Management Ltd. (Principal Financial Officer and Principal Accounting Officer of Seadrill Limited) | |||||||
Exhibit 99.1
SDRL – Completion of mandatory offer to purchase up to US$56 million of its 12.0% Senior Secured Notes due 2025
Hamilton, Bermuda, November 14, 2018 - Seadrill Limited (“Seadrill” or the “Company”) announces the completion of the mandatory offer to purchase approximately US$56 million (the “Asset Sale Offer”) of its 12.0% Senior Secured Notes due 2025 (the “Notes”) announced on October 10, 2018 related to the proceeds of a deferred consideration agreement with Sapura Energy.
The Asset Sale Offer expired at 5:00 p.m., New York City time, on November 9, 2018 (the “Expiration Time”). As of the Expiration Time, $148,243 in aggregate principal amount of the Notes were validly tendered. The Company accepted and made payment for the tendered Notes on November 14, 2018.
The Asset Sale Offer was made pursuant only to the terms and conditions contained in the offer to purchase. This press release is for informational purposes only and does not constitute an offer to purchase, or a solicitation of an offer to sell, any security, nor shall there be any sale of any security in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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, the markets in which it operates and its restructuring efforts. 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 2017 Annual Report on Form 20-F (File No. 001-34667) and its Registration Statement on Form F-1 (Registration No. 333-224459). 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 of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.