-
Nabors Industries ( NYSE: NBR ) announced that its wholly owned subsidiary, Nabors Industries or NII has priced $225M of its 1.750% exchangeable senior unsecured notes due 2029.
-
The offering of the notes is expected to close on February 14, 2023.
-
NII granted the initial purchasers a 30-day option to purchase up to an additional $25M notes.
-
Net proceeds to be deployed to redeem all of its outstanding 9.00% senior priority guaranteed notes due February 2025. Any excess proceeds will be used for general corporate purposes, which may include the repayment of other indebtedness.
-
Stock down 5.9% .
For further details see:
Nabors Industries subsidiary prices $225M notes