Seadrill Terminates Total Return Swap Agreements

Seadrill has agreed an early termination of the total return swap agreements with Carnegie Investment Bank AB Norway Branch with 4,500,000 shares in Seadrill Limited as underlying security. The swaps originally had December 19, 2008 as maturity date.

Simultaneously, Seadrill entered into a total return swap agreement with DnBNor Markets with 4,500,000 shares in Seadrill Limited as underlying security. The agreed initial reference price under the swap agreement is NOK56.7 per share with expiry on February 12, 2009.

Seadrill also has a current holding of own treasury shares of 717,800 shares.

 

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