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BRIEF-Seadrill Partners defers Q1 dividend decision
April 28, 2017 / 1:40 PM / in 7 months

BRIEF-Seadrill Partners defers Q1 dividend decision

OSLO, April 28 (Reuters) - Seadrill Partners LLC:

* Says it would defer its first quarter dividend decision until an agreement is reached with its lending banks to insulate itself from potential events of default by Seadrill Limited should Seadrill Limited require the use of in court processes, such as schemes of arrangement or chapter 11 proceedings, to implement its restructuring

* Says discussions with its lending banks are well advanced and we expect to reach an agreement by the end of May, prior to the implementation of the broader Seadrill Limited restructuring

* Says assuming it reaches an agreement with the banks, a determination will be made regarding the distribution

* Says based on its current cash position and free cash flow, it aims to maintain its current distribution level once an agreement is reached

Source for Eikon:

Further company coverage:

Reporting by Nerijus Adomaitis, editing by Ole Petter Skonnord

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