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Seadrill cancels major bond issue

Today John Fredriksen's drilling company Seadrill canceled a planned bond issue worth USD 1 billion due to the day's rate developments, says the company in a statement to the Oslo Stock Exchange.

Seadrill has decided to cancel a major bond issue worth USD 1 billion with a five-year maturation period, to 2019. This happens at the last minute before the issue was set to launch, the John Fredriksen-owned drilling company informs the Oslo Stock Exchange.

This move is attributed to rate developments on the day, says the company.

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