Subsea 7 S.A. announces the full exercise of the over-allotment option in connection with its convertible bond offering

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR
IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES
WOULD BE PROHIBITED BY APPLICABLE LAW

Luxembourg - October 1, 2012 - ABG Sundal Collier and
BNP Paribas, acting as Joint Bookrunners of the
offering of convertible bonds due 2017 (the "Bonds")
launched by Subsea 7 S.A. (Oslo Børs: SUBC,
the "Company") on September 27, 2012, have notified
the Company of the full exercise of the over-
allotment option granted to them.
Accordingly, the aggregate principal amount of the
Bonds to be issued has been increased from US$600m to
US$700m.
Furthermore, BNP Paribas, in its capacity as
stabilising agent, has informed the Company that it
has not undertaken any stabilization activities
during the stabilization period which ended today.
The Bonds are expected to be settled on or around
October 5, 2012. While the Bonds will not be listed
upon settlement, the Company may decide to list the
Bonds at a later stage.
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Subsea 7 S.A. is a seabed-to-surface engineering,
construction and services contractor to the offshore
energy industry worldwide.
We provide integrated services, and we plan, design
and deliver complex projects in harsh and challenging
environments.
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Contact:
Paul Gooden
Subsea 7 S.A.
Tel +44 (0)20 8210 5568
Paul.Gooden@subsea7.com
www.subsea7.com