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SDLP - Amendment to Certain Credit Facilities

(GLOBE NEWSWIRE via COMTEX) -- London, United Kingdom, April 29, 2016 - Seadrill Partners LLC ("the Company") announces today that it has consented to the agreement reached between Seadrill Limited and its banking group to amend certain covenants related to the following secured credit facilities where both parties are guarantors:

- US$1.45 billion facility relating to the West Vela

- US$420 million facility relating to the West Polaris

- US$440 million facility relating to the T-15 & T-16

These three facilities relate to rigs purchased by the Company from Seadrill Limited which contain identical covenants to those in other Seadrill Limited facilities.

The amendments form part of a package of measures agreed between Seadrill Limited, our largest shareholder and former parent, and its banks as the first phase of a broader plan to refinance and recapitalize its business. Please see Seadrill Limited's Annual Report on Form 20-F filed with the U.S SEC on April 28th 2016 for additional details.

The financial covenant amendments extend to 30 June 2017 and relate to the following:

- A reset of the leverage covenant.

- A revised definition of the Equity Ratio to exclude the impact of any change to the market value of our rigs.

- A suspension of the provision that allows lenders to receive a prepayment...