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Weatherford International plc Announces the Commencement of a $1,500,000,000 Senior Notes Offering
HOUSTON, Oct. 12, 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. 12, 2021 /PRNewswire/ -- Weatherford International plc (NASDAQ: WFRD) (\"Weatherford\" or the \"Company\") today announced that its wholly owned subsidiary, Weatherford International Ltd. (the \"Issuer\") is proposing to issue $1,500 million aggregate principal amount of senior notes due 2030 (the \"Notes\") in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the \"Securities Act\"). The Notes will be guaranteed by the Company and the same subsidiaries of the Company that guarantee the Issuer's 6.50% Senior Secured First Lien Notes due September 15, 2028. The offering is subject to market conditions and other factors. \nThe Issuer intends to use the net proceeds from the offering and cash on hand to purchase, in a separately announced tender offer, or redeem, up to $1,500 million principal amount of its 11.00% senior notes due December 1, 2024.\nThe Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, and outside the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act. The Notes 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 ...