- Weatherford International ( NASDAQ: WFRD ) announced Monday its plans to redeem $50M principal amount of its 11% senior unsecured notes due Dec. 1, 2024.
- The energy services company intends to use cash on hand for repayment while redemption date is set to Aug. 10, 2022.
- Girish Saligram, President and Chief Executive Officer, commented, "I am extremely proud of the progress we have made to strengthen our operating profile as we continue on our journey to realize sustainable profitability and free cash flow generation. This repayment demonstrates our commitment to continue improving our capital structure from our operating results."
- Earlier (June 08): Weatherford wins new Buy ratings at Goldman, Deutsche Bank
For further details see:
Weatherford International to redeem $50M notes in early cash repayment