trending Market Intelligence /marketintelligence/en/news-insights/trending/cvDweJT1zFCZsXY-uP6GpQ2 content esgSubNav
In This List

Nabors prices $1B senior notes offering

Blog

Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Insight Weekly: Inflation eases; bank M&A slows; top companies boost market share

Blog

Activity Volumes Across the Equity Capital Markets Dropped Significantly in 2022


Nabors prices $1B senior notes offering

Nabors Industries Ltd. launched a $1 billion senior guaranteed notes offering comprised of $600 million of 7.25% senior guaranteed notes due 2026 and $400 million of 7.50% senior guaranteed notes due 2028, priced at 100% of par.

The notes will be guaranteed by the company's subsidiaries, which include Nabors Industries Inc., or NII, Nabors Drilling Holdings Inc., Nabors International Finance Inc., Nabors Lux Finance 1 SARL, Nabors Global Holdings Ltd. and Nabors Holdings Ltd., according to a Jan. 7 release from the oilfield service company.

The offering is expected to raise $986 million, after deducting commissions. The proceeds will be used to fund NII's offer 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 through tender offers for the notes. The remaining proceeds are intended for general corporate purposes, which include debt repayment.

The offering is expected to close Jan. 10, subject to customary closing conditions.