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Weatherford International plc Announces Redemption of $200 million principal amount of its 11.0% senior notes due December 1, 2024.
HOUSTON, Oct. 20, 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. 20, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) (\"Weatherford\" or the \"Company\") today announced that its wholly-owned subsidiary, Weatherford International Ltd. (the \"Issuer\"), has completed the previously announced redemption of $200 million principal amount of its 11.0% senior notes due December 1, 2024 using cash on hand. \nH. Keith Jennings, Executive Vice President and Chief Financial Officer, commented, \"We are extremely proud of the progress our employees have made improving our operations. Sustainably generating operating cash flow has afforded us the ability to redeem debt as we continue to improve our capital structure.\"\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 results may vary materially from those indicated in our forward-looking statements. Readers are cautioned that forward-looking statements are only predictions and may differ materially from actual future events or results, including the price and price volatility of oil and natural gas; the extent or duration of business interruptions, demand for oil and gas and fluctuations in commodity prices associated with COVID-19 pandemic; general global economic repercussions related to COVID-19 pandemic; the macroeconomic outlook for the oil and gas industry; and operational challenges relating to the COVID-19 pandemic and efforts to mitigate the spread of the COVID-19 virus and COVID-19 variants, including logistical challenges, protecting the health and well-being of our employees, remote work arrangements...