Weatherford International Ltd., a Bermuda exempted company ("Weatherford Bermuda") and a subsidiary of Weatherford International Ltd., a Swiss joint-stock corporation ("Weatherford"), announced the pricing of the offering by Weatherford Bermuda of $750 million aggregate principal amount of 4.50 percent Senior Notes due 2022 at a public offering price of 99.855 percent and $550 million aggregate principal amount of 5.95 percent Senior Notes due 2042 at a public offering price of 99.291 percent. Weatherford and Weatherford International, Inc., a Delaware corporation and subsidiary of Weatherford, will fully and unconditionally guarantee the notes on a senior, unsecured basis. The offering is expected to close on April 4, 2012, subject to customary closing conditions.
The net proceeds from this offering will be used to repay existing short-term debt and for general corporate purposes. Until the net proceeds are used for such purposes, the net proceeds may be invested in short-term liquid investments.
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