Nabors Industries Ltd. completed its previously announced offering of $600 million of its 7.25% senior guaranteed notes due Jan. 15, 2026, and $400 million of its 7.50% senior guaranteed notes due Jan. 15, 2028.

Nabors received proceeds of approximately $984.0 million from the offering, after the deduction of related expenses, according to a Jan. 14 filing. The oilfield service provider said it plans to use the proceeds to fund its subsidiary Nabors Industries Inc.'s tender offers to repurchase up to $800 million of its 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.

Nabors may redeem in whole or in part the 2026 notes at a price equal to 100% of the principal amount of the notes and a make-whole premium or redeem up to 35% of the notes at a price equal to 107.25% of the principal amount, plus accrued and unpaid interest, before July 15, 2022.

The company may also redeem in whole or in part the 2028 notes at a price equal to 100% of the principal amount of the notes and a make-whole premium or redeem up to 35% of the principal amount of the notes at a price equal to 107.50% of the principal amount, plus accrued and unpaid interest, before Jan. 15, 2023.