Nabors commences senior unsecured notes offering

Nabors Industries Inc. (NII), a wholly owned subsidiary of Nabors Industries Ltd. (NYSE: NBR), has commenced an offering of senior unsecured notes due 2023. The notes will be fully and unconditionally guaranteed by Nabors Industries Ltd.

The proceeds from the sale of the notes are intended to be used to prepay the $162.5 million portion due in 2018 under NII's $325.0 million unsecured term loan and all amounts currently outstanding under NII's unsecured revolving credit facility, which matures in 2020. Any proceeds not used for such purposes will be used for general corporate purposes, including to repay amounts outstanding under NII's commercial paper program and to repurchase or repay other indebtedness of Nabors and its subsidiaries.

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...