Business
Weatherford International plc Announces Early Tender Results of Cash Tender Offer for up to $1,600,000,000 of Weatherford International Ltd.'s 11.00% Senior Notes Due 2024
HOUSTON, Oct. 26, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced the early tender results
About this update from Weatherford International Plc
[{"type":"text","content":"HOUSTON, Oct. 26, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) (\"Weatherford\" or the \"Company\") today announced the early tender results as of 5:00 p.m., New York City time, on October 25, 2021 (the \"Early Tender Deadline\") of the previously announced tender offer (the \"Tender Offer\") of its wholly owned subsidiary, Weatherford International Ltd. (the \"Issuer\"), to purchase for cash up to $1,600,000,000 aggregate principal amount of its outstanding 11.00% Senior Notes due 2024 (the \"Notes\").\nThe terms and conditions of the Tender Offer are described in an Offer to Purchase, dated October 12, 2021 (the \"Offer to Purchase\").\nThe aggregate principal amount of Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline (the \"Early Tender Notes\"), as well as the percent of the aggregate principal amount of Notes outstanding constituting Early Tender Notes, is set forth in the columns entitled \"Aggregate Principal Amount of Early Tender Notes\" and \"Percent of Outstanding Principal Amount Tendered,\" respectively, in the table below. The consideration being offered for any such Early Tender Notes accepted for purchase in the Tender Offer is also set forth in the table below:\nCUSIP / ISIN\nTitle of Notes\nAggregatePrincipal AmountOutstanding\nAggregate PrincipalAmount of EarlyTender Notes\nPercent of OutstandingPrincipal AmountTendered\nTender OfferConsideration (1)\nEarly \nTender\nPayment (2)\nTotalConsideration (1)(3)\nRegistered Notes:\n947075AP2 /US947075AP29\nSenior Notes due2024\n$1,900,000,000(4)\n$1,846,040.00\n97.16%\n$1,014.76\n$50.00\n$1,064.76\n_________\n(1)\nPer $1,000 principal amount of Notes validly tendered and accepted for payment.\n(2)\nPer $1,000 principal amount of Notes validly tendered and not validly withdrawn prior to the Early Tender Deadline and accepted for payment.\n(3)\nIncludes the Tender Offer Consideration and Early Tender Payment.\n(4)\nOf the $2,100,000,000 outstanding aggregate principal amount of Notes as of the date of the launch of the Tender Offer, $200,000,000 in aggregate principal amount of Notes was redeemed at a price of 103.000% of the principal amount thereof, plus accrued and unpaid interest to the redemption date, on October 20, 2021. Prior to December 1, 2022, the Issuer may redeem up to an additional $300 million...