May 24, 2017 / 12:58 PM / 2 months ago

BRIEF-Seadrill Partners eyes agreement with banks during June

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May 24 (Reuters) - Seadrill Partners LLC

* Says discussions with its lending banks are well advanced and they are targeting execution of an agreement during June 2017, prior to implementation of broader Seadrill Limited restructuring

* Says plans to make a decision regarding the distribution to its members when the agreement is reached

* Says plans to maintain its current distribution level once an agreement is reached with its lending banks

* Seadrill Partners has deferred its first quarter 2017 distribution 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 Source text for Eikon: Further company coverage: (Reporting By Nerijus Adomaitis)

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