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Nabors Announces Offering of $550 million Senior Priority Guaranteed Notes
Nabors Industries Ltd. (NYSE: NBR) ("Nabors") announced today that Nabors Industries, Inc. ("NII"), its indirect wholly-owned subsidiary, has commenced an offering of $550 million senior priority guaranteed notes due 2032 (the "Notes"). The Notes will be fully and unconditionally guaranteed by Nabors and certain of Nabors' indirect wholly-owned subsidiaries which also guarantee the Existing Senior Priority Guaranteed Notes (as defined below).
About this update from Nabors Industries Ltd.
[{"type":"text","content":"HAMILTON, Bermuda, Nov. 4, 2025 /PRNewswire/ -- Nabors Industries Ltd. (NYSE: NBR) ("Nabors") announced today that Nabors Industries, Inc. ("NII"), its indirect wholly-owned subsidiary, has commenced an offering of $550 million senior priority guaranteed notes due 2032 (the "Notes"). The Notes will be fully and unconditionally guaranteed by Nabors and certain of Nabors' indirect wholly-owned subsidiaries which also guarantee the Existing Senior Priority Guaranteed Notes (as defined below).","length":528,"tagName":"p"},{"type":"text","content":"The Notes will be senior unsecured obligations of NII and will rank pari passu with NII's existing 9.125% Senior Priority Guaranteed Notes due 2030 (the "Existing Senior Priority Guaranteed Notes"). The Notes will be guaranteed, jointly and severally, by (i) Nabors, (ii) each of the subsidiaries that guarantee Nabors' existing 7.50% Senior Guaranteed Notes due 2028 and NII's existing 8.875% Senior Guaranteed Notes due 2031 (together, the "Existing Senior Guaranteed Notes") and (iii) certain lower-tier subsidiaries of Nabors that guarantee NII's amended & restated revolving credit facility (the "A&R Credit Facility") but do not currently guarantee the Existing Senior Guaranteed Notes (the "Lower Tier Notes Guarantors"), other than Nabors Alaska Drilling, Inc. The guarantee of the Notes by the Lower Tier Notes Guarantors will be contractually subordinated in right of payment with respect to the Lower Tier Notes Guarantors' guarantee of the A&R Credit Facility. Each of the guarantors of the Notes have guaranteed the Existing Senior Priority Guaranteed Notes and will guarantee the Notes on an equal and ratable basis.","length":1202,"tagName":"p"},{"type":"text","content":"Nabors intends to use the net proceeds from the offering, together with cash on hand, to redeem NII's outstanding 7.375% Senior Priority Guaranteed Notes due 2027 (the "Senior Priority Guaranteed Notes due 2027"). As of today's date, there is approximately $546.1 million in aggregate principal of Senior Priority Guaranteed Notes due 2027 outstanding.","length":370,"tagName":"p"},{"type":"text","content":"The Notes will be offered and sold to persons reasonably believed to be qualified institutional buyer...