HAMILTON, Bermuda, Jan. 6, 2020 /PRNewswire/ -- Nabors Industries
Ltd. (NYSE: NBR) ("Nabors") announced today that it has commenced
an offering of senior guaranteed notes due 2026 (the "2026 Notes")
and senior guaranteed notes due 2028 (the "2028 Notes" and together
with the 2026 Notes, the "notes"). The notes will be fully and
unconditionally guaranteed by certain of Nabors' indirect
wholly-owned subsidiaries consisting of Nabors Industries, Inc.
("NII"), Nabors Drilling Holdings Inc., Nabors International
Finance Inc., Nabors Lux Finance 1, Nabors Global Holdings
Ltd. and Nabors Holdings Ltd.
The notes will be senior unsecured obligations of Nabors and
will rank pari passu in right of payment with all of Nabors'
existing and future senior obligations. The guarantees of the notes
will be senior unsecured obligations of the guarantors and will
rank pari passu in right of payment with all of the
guarantors' existing and future senior obligations.
Nabors intends to use the net proceeds from this offering to
fund NII's offer to repurchase, for an aggregate purchase price of
up to $800 million NII's 5.50% senior
notes due 2023, 4.625% senior notes due 2021, 5.10% senior notes
due 2023 and 5.00% senior notes due 2020 in the tender offers and
consent solicitations for such notes announced today, and will use
the remaining proceeds for the repayment of debt and other general
corporate purposes.
The notes will be offered and sold to qualified institutional
buyers in accordance with Rule 144A under the Securities Act of
1933, as amended (the "Securities Act"), and to persons outside
the United States in accordance
with Regulation S under the Securities Act and applicable
exemptions from registration, prospectus or like requirements under
the laws and regulations of the relevant jurisdictions outside
the United States. The notes will
not be registered under the Securities Act and may not be offered
or sold in the United States
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
applicable state securities laws. The notes will also not be
registered in any jurisdiction outside of the United States and no action or steps will
be taken to permit the offer of the notes in any such jurisdiction
where any registration or other action or steps would be required
to permit an offer of the notes.
The notes will not be offered or sold in any such jurisdiction
except pursuant to an exemption from, or in a transaction not
subject to, the relevant requirements of laws and regulations of
such jurisdictions.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the notes or any other securities
of Nabors or its subsidiaries, nor shall there be any offer,
solicitation or sale of the notes in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful.
This press release shall not constitute an offer to purchase any
notes in the tender offers described above. Any such offer shall be
made solely by means of the related Offer to Purchase and Consent
Solicitation Statement.
The information above includes forward-looking statements within
the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934. Such forward-looking statements are subject
to certain risks and uncertainties, as disclosed by Nabors from
time to time in its filings with the Securities and Exchange
Commission. As a result of these factors, Nabors' actual results
may differ materially from those indicated or implied by such
forward-looking statements. Nabors does not undertake to update
these forward-looking statements.
About Nabors Industries
Nabors (NYSE: NBR) owns and operates one of the world's largest
land-based drilling rig fleets and provides offshore platform rigs
in the United States and numerous
international markets. Nabors also provides directional drilling
services, performance tools, and innovative technologies for its
own rig fleet and those of third parties. Leveraging our advanced
drilling automation capabilities, Nabors highly skilled workforce
continues to set new standards for operational excellence and
transform our industry.
Media Contacts:
For further information regarding Nabors, please contact
Dennis A. Smith, Senior Vice
President of Corporate Development & Investor Relations, +1
281-775-8038 or William C. Conroy,
Senior Director of Corporate Development & Investor Relations,
+1 281-775-2423. To request investor materials, contact
Nabors' corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via
e-mail mark.andrews@nabors.com.
View original
content:http://www.prnewswire.com/news-releases/nabors-announces-offering-of-senior-guaranteed-notes-300981978.html
SOURCE Nabors Industries Ltd.