The Board of directors of North Atlantic Drilling Ltd. has retained the services of RS Platou Markets AS, Arctic Securities, DNB Markets, part of DNB Bank ASA, Nordea Markets part of Nordea Bank Norge ASA, Pareto Securities AS and SEB Enskilda to effect a contemplated private placement of new shares directed towards Norwegian and international institutional investors (the "Private Placement").
The anticipated gross proceeds of the contemplated Private Placement will be US$300 million through an issue of 150,000,000 new ordinary shares. The order price has been set to US$ 2.00 per share by the Board of Directors.
The private placement is fully underwritten by Seadrill Limited. Seadrill Limited will subscribe for and be allocated the amount of approximately US$150 million. The minimum order in the Private Placement has been set to the USD equivalent of EUR 50,000.