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Weatherford International plc Announces Closing of Senior Notes Offering
HOUSTON, Oct. 27, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced that its wholly-owned
About this update from Weatherford International Plc
[{"type":"text","content":"HOUSTON, Oct. 27, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) (\"Weatherford\" or the \"Company\") today announced that its wholly-owned subsidiary, Weatherford International Ltd. (the \"Issuer\"), has closed its private offering of $1,600 million aggregate principal amount of 8.625% senior notes due 2030 (the \"Notes\"). \nThe Issuer used the net proceeds from the offering and cash on hand to purchase, in a separately announced tender offer, $1,600.0 million aggregate principal amount of its 11.00% senior notes due 2024. \nThe Notes were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the \"Securities Act\"), and outside the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act.\nThe Notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state securities laws.\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. \nForward Looking Statements \nThis news release contains forward-looking statements concerning, among other things, the Company's strategy and financing plans and goals. These forward-looking statements are also generally identified by the words \"intends\", \"believe,\" \"project,\" \"expect,\" \"anticipate,\" \"estimate,\" \"outlook,\" \"budget,\" \"intend,\" \"strategy,\" \"plan,\" \"guidance,\" \"may,\" \"should,\" \"could,\" \"will,\" \"would,\" \"will be,\" \"will continue,\" \"will likely result,\" and similar expressions, although not all forward-looking statements contain these identifying words. Such statements are based upon the current beliefs of Weatherford's management and are subject to significant risks, assumptions, and uncertainties. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual r...