Nabors Extends Exchange Offer Of Up To $700 Million In Notes

Date : 02/22/2011 @ 8:15AM
Source : Dow Jones News
Stock : Nabors Industries Ltd. (NBR)
Quote : 8.055  0.035 (0.44%) @ 10:15AM

Nabors Extends Exchange Offer Of Up To $700 Million In Notes

Nabors (NYSE:NBR)
Historical Stock Chart

5 Years : From Jul 2012 to Jul 2017

Click Here for more Nabors Charts.

Nabors Industries Ltd. (NBR) extended its offer to exchange up to $700 million in 2020 notes, after the land-drilling oil contractor said nearly all of the old notes had been tendered in the exchange.

The offer, originally scheduled to expire on Feb. 18, will now expire at 5 p.m. EST Wednesday, unless further extended.

Nabors said as of Feb. 18, about $698 million, or 99.7%, of the old notes had been confirmed as tendered in exchange for the new notes.

Last week, Nabors reported it swung to a profit following prior-year writedowns as its top line surged on continued strong gains in the Lower 48 drilling operations. The company has seen North American revenue boosted by acquisitions lately. The industry has largely benefited from increasing dayrates, improved margins and higher rig counts.

Shares fell 0.8% to $27.95 in premarket trading.

-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

 
 

Latest NBR Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.